In his latest tweet, Musk said "Tesla has not sold any bitcoin". Bitcoin fell more than 9% on Monday to as low as US$42,185, its lowest since Feb 8, but rallied back to around US$45,190 as of 0911 GMT. "There is nothing new I can say about Bitcoin — volatile, highly speculative, easy to manipulate: a bubble." On Wednesday, Musk said Tesla would stop taking Bitcoin as payment, owing to environmental concerns about energy use to process transactions. Musk said Tesla would not sell its Bitcoin, but the cryptocurrency has dropped by almost a quarter since Musk's reversal on Tesla taking it as payment.

Source: The Edge Markets May 17, 2021 01:53 UTC