Elon Musk acted again so that the price of Bitcoin fell on Friday (4/6/2021). One of the richest people in the world tweeted a meme about a couple breaking up because a male partner quoted Linkin Park’s lyrics. Musk also added the hashtag #Bitcoin and a broken heart emoji.
According to data from Coin Metrics, Bitcoin fell 6% to $36,273.29 around 10:25 am ET Friday. Other digital coins followed, with the cryptocurrency Ether down more than 6% to $2,615.88, and Musk’s favorite Dogecoin falling nearly 8% to around 36 cents.
This isn’t the first time Musk’s tweets about crypto have stirred the market. In May, he said that Tesla would stop accepting Bitcoin as a payment method because of concerns over its energy use. It caused hundreds of billions of dollars to vanish from the entire crypto market in one day.
Several crypto industry players have criticized Musk in the past for his posts about digital currencies. Musk has frequently tweeted about the “joke” cryptocurrency Dogecoin, for example, often resulting in wild moves in its price.
Following his latest tweet about Bitcoin, Binance CEO Changpeng Zhao disagrees.
‘Tweets that hurt other people’s finances are not funny, and irresponsible,’ Zhao said.