Bitcoin plummets as Elon Musk hinted at the end of his crypto partnership in a tweet


Bitcoin plummets as Elon Musk

Bitcoin's value plummeted on Friday as Elon Musk appeared to be mourning the loss of his connection with the digital currency.

With the bitcoin hashtag and a broken heart emoji, the Tesla CEO tweeted a meme about a couple breaking up. The lyrics to Linkin Park's song "In the End" were incorporated in the post.

According to CoinDesk, the price of bitcoin slid approximately 7% to $36,723 at 7 a.m. ET. Other digital currencies followed suit, with ethereum down 8% to $2,639 and dogecoin down nearly 13% to approximately 36 cents.

Musk recently informed consumers that the electric car company would no longer accept bitcoin as a form of payment for its automobiles due to worries about bitcoin mining's high energy consumption.

Musk appeared to soften his views after chatting with bitcoin miners in North America, but his most recent tweet shows he won't be jumping back on board any time soon.

Bitcoin plummets as Elon Musk

Musk is known for causing huge price swings in bitcoin by making odd comments on social media. Musk boosted the price of dogecoin by roughly 20% in December by merely tweeting, "One word: Doge." He later clarified that his tweets concerning cryptocurrency were intended as a jest.

Bitcoin, which accounts for more than 40% of the global cryptocurrency market, has had a difficult month. May had a 36 percent drop in prices, the worst monthly performance since September 2011.

Since hitting an all-time high around $64,000 in April, bitcoin has been tumbling downward due to a relentless stream of bad news, including efforts taken by China to crack down on the digital currency.

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