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Bitcoin VS Elon Musk: What you need to know
The volatility in Bitcoin space continued this week with the largest cryptocurrency surging to a new all-time high of US$58,000 on Sunday but plunged to US$46,000 on early Tuesday. The drop was followed by skeptical comments made by Elon Musk, U.S. Treasury Secretary Janet Yellen, and Microsoft co-founder Bill Gates. Lately, comments by Musk have dominated the crypto space affecting its day-to-day value. Although Tesla recently bought US$1.5 Billion worth of Bitcoin, Musk remains in staunch support of Dogecoin, a much smaller and cheaper cryptocurrency. With Musk’s daily tweets affecting the stock and crypto market, he surely is becoming a force to reckon with.