The continuing story line of Tesla CEO Elon Musk manipulating the cryptocurrency market added another chapter.
Via Twitter on Thursday night, Musk sent out a meme depicting a couple’s breakup – but he included the bitcoin hashtag as well as the broken-heart emoji. Not too difficult to translate than one.
Investors in the volatile crypto market likely wish Musk would break up with Twitter.
Predictably, the price of bitcoin fell in the wake of Musk’s tweet, which could signal his further displeasure with the digital currency – or it could mean absolutely nothing.
The post included Linkin Park’s lyrics from their “In the end.”
At Friday’s sessions for the Bitcoin 2021 conference in Miami, attendees directed social media displeasure at Musk, and bitcoin prices fell in Friday trading.
A Fox story reported that Max Keiser, host of “Keiser Report,” began his session at the conference by repeating “F— Elon, F— Elon.”
Bitcoin was down 6 percent to hit $35,814 at around 8 am ET, but had rallied back to $37,142 by early afternoon, marking a loss of 4.4 percent over the prior 30 hours.
Morning trading saw ethereum off 5.6 percent and dogecoin off almost 10 percent.
Musk has helped fuel the uncertainty in the overall crypto market, taking the payment option away from Tesla customers because of his environmental concerns surrounding bitcoin mining and, months earlier, driving up the price of dogecoin with a seemingly supportive tweet regarding the meme-inspired digital currency.
Musk’s most recent tweet suggests he won’t be back on the bandwagon anytime soon.
Bitcoin, the dominant player in the current crypto market, reached its record high of $64,000 two months ago but factors including the Chinese government’s recent restrictions have served to damage the value.
Last month alone, bitcoin lost about 35 to 40 percent.