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Comments from Elon Musk have been whipsawing Bitcoin

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By Lorcan Roche Kelly

May 17, 2021 at 10:33 AM UTC

Musk clarifies Bitcoin position, more Covid flareups, and the everything shortage.

It was a difficult week for holders of Bitcoin, with Tesla Inc. CEO Elon Musk taking a chunk out of the currency’s value last Wednesday and then seeming to imply yesterday that his company could dump its Bitcoin, leading to further falls. He clarified this morning that Tesla has, in fact, not sold any of the crypto token. Bitcoin was trading above $45,300 at 5:50 a.m. Eastern Time. Musk’s other favored token, Dogecoin, was losing ground this morning, according to pricing from CoinMarketCap.