Bitcoin, Ethereum Spiral Down As Elon Musk Posts Bitcoin Broken Heart Tweet

June 4, 2021 Editor Ethereum 0

Bitcoin (BTC) tumbled down after Tesla Inc (NASDAQ:TSLA) posted a meme on Twitter Inc’s  (NASDAQ:TWTR) platform with a broken heart emoji on Thursday night.

What Happened: Musk’s tweet simply said Bitcoin with the broken heart emoji and appeared to feature a couple going through a breakup.

At around the time of Musk’s tweet, Bitcoin slipped from above $38,000 levels to the press time price of $37,762.74. Over 24-hours BTC is up 1.03%.

Bitcoin Price Post Musk Tweet, Courtesy CoinMarketCap

See Also: How to Buy Bitcoin (BTC)

Ethereum (ETH) too followed suit falling from $2,800 levels to $2,724.38 at press time. Over 24-hours ETH gained 1.5%.

Ethereum Price Post Musk Tweet, Courtesy CoinMarketCap

Musk entered into a Twitter exchange with a social media user who posted a meme showcasing “Crypto Twitter” reaction to Musk’s tweets.

In yet another tweet Musk seems to make a reference to his actions leading to a fall in Bitcoin price.

Why It Matters: Last month, Musk entered a war of words with Bitcoin aficionados but during the course of his exchanges clarified that Tesla had not shed its BTC holdings.

See Also: ‘Stick To Space Elon,’ Billboards Criticizing Musk Over Bitcoin Stance To Appear Across US

Tesla suspended BTC payments last month which Musk attributed to environmental concerns.

Post the suspension, Musk announced he was working with Dogecoin (DOGE) developers to improve that cryptocurrency’s “system transaction efficiency.”

On Thursday, Dogecoin co-creator Billy Markus replied to Musk’s meme on Twitter by saying, “Elon… I put my trust in you,” also an apparent reference to the Linkin Park song “In The End.”

Justin Sun, the founder of Tron (TRX), had his say on Musk’s meme as well. 

Sun said last week that Musk may be next in line to get the “bad boy” title in the cryptocurrency world.

Read Next: Dogecoin Underperforms Wider Crypto Market Despite Key Catalyst