Does “buy the rumor, sell the announcement” apply here?
We have recently seen the price of BTC surge due to an announcement that Mastercard will enable Bitcoin transactions across all of its cards.
Now the rumors that Tesla will resume accepting Bitcoin as a payment for certain products has come back into the crypto news cycle.
Elon Musk had previously cited Bitcoin’s energy consumption as one of the central reasons why the company stopped accepting BTC as a payment.
With many innovative solutions to this problem coming down the pipeline, it’s no wonder why the billionaire is having a change of heart, and the recent uptrend in price action is no doubt making BTC an attractive option as well.
Could this be a signal that more upward price action is expected for BTC, and this is why firms like Tesla are attempting to accrue more?
Perhaps….here’s what people are saying:
Tesla May Start Accepting Bitcoin Again
Tesla, the biggest electric vehicles car manufacturer, has stated in the latest filing with the Securities and Exchang…#tesla #bitcoin #exchange #securitieshttps://t.co/s9bfSRzJmp pic.twitter.com/FX2orQPv9f
— CryptoElite (@CryptoEliteNews) October 25, 2021
1/ Ever since @Tesla and @elonmusk stopped accepting payments in Bitcoin over concerns of the cryptocurrencies' energy consumption, the industry has been working at a break-neck pace to address the issue. A thread 🧵 #BCITJournalism
— Jeremy Shepherd (@jer_shepherd) October 19, 2021
Trust Nodes dredged up the rumor once again:
“In the first quarter of 2021, we invested an aggregate $1.50 billion in bitcoin. In addition, during the three months ended March 31, 2021, we accepted bitcoin as a form of payment for sales of certain of our products in
specified regions, subject to applicable laws, and suspended this practice in May 2021,” Tesla said before adding:
“We may in the future restart the practice of transacting in digital assets for our products and services.
Recent developments. Today, $HZ announced that they plan to order 100k teslas next year, and Tesla announced that they’ll start accepting #Bitcoin again. This news confirmed to many the the “EV future” is not far away at all.
— Wall Street Kings (@realwallstkings) October 25, 2021
Elon announcing Tesla is accepting #Bitcoin payments again could probably send it to 100k in a daily candle tbh
— LilMoonLambo (@LilMoonLambo) October 21, 2021
Elon Musk revealed his current crypto holdings via CNBC:
But on Sunday, Musk clarified that he doesn’t own any shiba inu coins and that he only owns bitcoin, ether and dogecoin. “That’s it,” he said.
Musk also confirmed that he owns bitcoin, ether and dogecoin in July during “The B-Word” conference.
Want more? To stay up to date on all our news, please follow us on Facebook here:
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!