Tesla Tokens Drop 6% After Shock Musk Poll – Tesla Shares Follow

Musk's tweets are shaking the markets again - including Tesla. Specifically, Elon Musk created a Twitter poll to decide whether he could sell 10% of his Tesla shares. The sale could be worth $25 billion. As a result, Tesla crypto tokens dropped 6.8%. Tesla shares in premarket trading soon followed, dropping 5%. The CEO of Tesla and SpaceX decided to engage his Twitter followers on the question of unrealized capital gains. On Saturday, Musk tweeted that he would sell 10%…

Institutional Investors who have Expanded their Portfolio in 2021

Cryptocurrency and blockchain investments from the first 9 months of 2021 have surpassed last year's grand total. In the first half of 2021, the worldwide crypto and blockchain activity was $8.7 million, more than double last year's figures. It is a significant sign that institutional money is streaming into the crypto space. Furthermore, it increases the investor base, and thus the institutional awareness and knowledge of this sector are also surging. The "institutional adoption" of crypto is already underway. Today…

The Top 7 Cryptocurrencies Promoters of 2021

A decade into their existence, cryptocurrencies are starting to come into their own. For long shunned as a fad that would pass with time, they've withstood the skepticisms to gain currency in financial conversations. Today, they attract the attention of individual citizens and corporations that had dismissed them before.  2021 has witnessed a significant jump in the crypto holdings of fortune 500 companies, with some indicating a willingness to buy further into the sector. The question is, which companies have…

The ETH Price Rockets Past $2K After Elon Musk Comments

Tech billionaire and Tesla CEO Elon Musk gave ETH bull the impetus they needed to surmount the $2K hurdle by revealing that he holds large amounts of the altcoin. He also confirmed that he personally owns bitcoin and Dogecoin. Musk was speaking at the B-Word cryptocurrency conference held on July 21, which featured other big names such as Twitter CEO Jack Dorsey and ARK Investment founder Cathie Wood. The Crypto Council established the forum for Innovation to help demystify bitcoin…

IoTA is Big on Automotive Industry; Why isn’t Elon and Tesla Investing with IoTA?

Ever since January 2021, Elon Musk and his company Tesla have shown interest in the crypto world. For instance, Tesla purchased over $1.5 billion worth of Bitcoin when bitcoin prices were slowly surging. Elon also purchased Bitcoin for his investment use.   Tesla later introduced a payment system involving Bitcoin to pay for any purchase of their Tesla cars. The company noticed the huge prospects in Bitcoin and decided to share its benefits and its reliability.  Primarily, crypto assets have vast…

Which Consumes More Energy to Produce, a Bitcoin or a Similarly Priced Tesla?

The talk has been raging on just how much energy is consumed when mining Bitcoin. The process is very energy-intensive, with cryptography being completely reliant on electricity. It has even been pointed out that the entirety of the Bitcoin mining industry consumes more electricity than the republic of Argentina. On the other hand, Tesla is another disruptive technology that is revolutionizing the automobile industry. The talk has been on how much fossil fuel emissions are saved, with their autopilot features…

Galaxy Digital: Bitcoin Consumes Less Energy Compared to Banking and Gold

As Bitcoin and blockchain gain momentum at the corporate level, Galaxy Digital has released a report on Bitcoin energy consumption. The report describes how the network consumes less energy than traditional financial industries and its value. The report comes days after Tesla CEO Elon Musk, the most significant vocal fan of cryptocurrencies on social media, banned bitcoin as a form of payment for Tesla products. He blamed the use of fossil fuel for bitcoin mining and transactions. The ban came…

WMA: Bitcoin Takes a Belly Flop after Tesla Discards BTC Payments

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,304 trillion. Bitcoin loses nearly 15% over the week after Elon Musk announced that Tesla wouldn’t accept BTC payments anymore. Ethereum is down by 1% despite setting a new ATH this week. XRP is up by almost 4% after a highly volatile week. Binance Coin lost more than 9% of its value over the…

Square Follows Tesla’s Suit: Could it be a BTC Price Dump Strategy?

Earlier this week, the CEO of Tesla said his company would no longer accept payment for cars in Bitcoin, which led to its price crashing and took down other cryptos with it. A day after, Square also revealed it did not intend to purchase more Bitcoin from its corporate treasuries after losing 20 million dollars on its $220 million investment last quarter in the cryptocurrency. Mr. Musk said the environmental issues of cryptocurrency were too strong, but he did not…

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