Bitcoin is down to the lowest level in 3 months cracking below the $45,000 mark as Elon Musk
sent followers into frenzy decoding if he is still backing the cryptocurrency or has he moved his bets entirely to Dogecoin.
As speculation of Musk selling his Bitcoin holdings emerged on Twitter, he clarified on Monday that Tesla has not sold any Bitcoin.
After suspending Bitcoin as a payment for Tesla a few days back, Musk has been seen countering pro-Bitcoin posts on Twitter. In a reply to a Twitter thread by a famous Bitcoin-supporter Peter McCormack where he was comparing Bitcoin and Dogecoin, the Dogefather said threads like this make him want to go all-in on Doge. He even said that Bitcoin is actually highly centralized.
The speculation of Musk dumping Bitcoins became stronger when he replied saying "indeed" to a Twitter post saying "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings." Bitcoin plunged sharply after this, from around $58,000 to $42,000.
Only three days back, the Dogefather tweeted that he was working with Doge developers to improve system transaction efficiency even as the world heard him calling Dogecoin a "hustle" in the Saturday Night Live a week ago. Lately, Musk even added that the Dogecoin is "potentially promising" and that "it wins hands down" praising the features of the meme-token.