Any sufficiently advanced magic is indistinguishable from technology
– Elon Musk (@elonmusk) May 22, 2021
Musk recently compared bitcoin (price in India) to fiat money. He often tweets about cryptocurrencies and has an impact on the prices of Bitcoin and MIME-based digital currency dosCoin (price in India).
Bitcoin prices skyrocketed in February as soon as Tesla announced it had invested $ 1.5 billion (about Rs 10,990 crore) in it and would soon accept it as a payment to pay for the car.
However, after that, another statement came in the last few days that now Tesla will not accept bitcoin as a payment during the car sale. The reason behind the statement was that he cited the adverse effects on the environment due to bitcoin mining. Since then bitcoin prices started coming down again.
At the beginning of May, he called the cryptocurrency a “hustle” in the Saturday Night Live comedy TV show. Since then, prices started falling further.
Two days ago, a statement came out that he has not sold nor will he sell any of his DodgeCoin holdings.