Bitcoin Ethereum News
The price of Bitcoin has tumbled over 25% in seven days, hitting a low of $42,025 over the weekend, as investors took profits en masse. (It is now trading at $38,163 after further declines.)
Bitcoin, as well as peers such as Ethereum which have also slumped by similar amounts in the last week, has sold off after a staggering year-to-date run that saw it double since the start of 2021.
Amid a wave of profit-taking last week, much of the reason for the sell-off is being placed on Elon Musk, the Tesla CEO, after he issued a series of tweets about Bitcoin, its energy usage and the company’s position in the crypto asset.
Musk tweeted,
‘We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.
“Cryptocurrency is a good idea on many levels, and we believe it has a promising future but this cannot come at a great cost to the environment.
“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform.