Arab Press

بالشعب و للشعب
Saturday, Jul 12, 2025

Bitcoin Tumbles After Musk Fails to Disclose Rumours That Tesla Sold its Bitcoin Assets

Bitcoin Tumbles After Musk Fails to Disclose Rumours That Tesla Sold its Bitcoin Assets

Elon Musk, being a cryptocurrencies enthusiast himself, made several critical statements on them in recent weeks, including calling Dogecoin, which he basically promoted on this Twitter feed, a “hustle”.

Bitcoin's price dropped an extensive amount, falling under 45,000 US dollars to reach $42,141.

The drop came amid a quick exchange on Twitter between Elon Musk and a cryptocurrency enthusiast with the nickname CryptoWhale, who claimed that Musk’s Tesla would announce in its next financial quarter that it had sold its assets in Bitcoin. "With the amount of hate Elon Musk is getting, I wouldn't blame him," CryptoWhale continued.

At first Musk did nothing to refute those claims, only tweeting “indeed” and later posting a screenshot of the conversation when asked about who did he actually reply to.


​Ten hours later, however, the tech billionaire took to Twitter to clarify that his electric car-making company had not sold any Bitcoin.


​In January, Tesla announced that it had invested $1.5 billion in Bitcoin, which propelled the already growing currency's value further. Now, however, it seems that times have changed.

Last Wednesday, Tesla sent Bitcoin down, announcing it would no longer accept Bitcoin as a payment for its electric vehicles.

Musk then also took to Twitter with criticisms of cryptocurrencies, saying that he is a big fan, but it could not come at the cost of the environment.


​​Bitcoin, the biggest cryptocurrency in the world, has been criticised for consuming immense amounts of electricity to support it, often loading the grid in coal-powered regions.

The criticisms got louder in recent months in connection with the rapid growth of the cryptocurrency’s value, with big names like Bill Gates calling it “not a great climate thing”.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×