Bitcoin Tanks After Elon Musk Broken Heart Emoji Tweet
After slowly recovering from its previous dip, BTC (bitcoin) is again down after Elon Musk tweets #Bitcoin and a broken emoji.
The Technoking tweet was also accompanied by a picture of a couple breaking up and quoted a Linkin Park song “In the End”. This led Twitter users to conclude that he is about to part ways with the most dominant digital asset.
— Elon Musk (@elonmusk) June 4, 2021
The price of BTC (bitcoin) immediately dropped to $36K from its price at $40K. His tweet has been highly criticized by crypto users, particularly bitcoiners. Others have even branded him as manipulative given his influence on the price of the cryptocurrency with some throwing unpleasant words on him.
Tron founder Justin Sun replied that he will buy all the BTC (bitcoin) that Musk will sell.
— Justin Sun 🅣🌞 (@justinsuntron) June 4, 2021
Binance founder Changpeng Zhao a.k.a. CZ made a tweet obviously directed to Musk.
Tweets that hurt other people's finances are not funny, and irresponsible.
— CZ 🔶 Binance (@cz_binance) June 4, 2021
His recent tweet created a FUD sending the whole market again on a crash with prices of major cryptocurrencies including DOGE (dogecoin) on a dip.
On May 25, he tweeted about his meeting together with Michael Saylor and a group of North American bitcoin miners. The said meeting was instrumental in the creation of the Bitcoin Mining Council. Despite the news raising criticisms due to growing concern on the effect of bitcoin mining, it made the price of BTC (bitcoin) increase by 4% with its price at $39,842. He and Saylor have also exchanged words on Twitter after Tesla removed bitcoin as payment for Tesla cars which resulted in its price plummeting. But according to Saylor, he was the first to reach out to Musk. And most crypto users thought that Musk has reconciled with the cryptocurrency especially after he stated that Tesla did not sell its BTC (bitcoin) holdings. But with his cryptic tweet, it seems like he will finally say goodbye to bitcoin for good this time.
As of writing, BTC (bitcoin) is now at $36,763.87 in recent data by Crypto.co and has decreased by 5.11% in a 24-hr chart.
Sheetz Convenience Store Adopts BTC as Payment
Sheetz, an American chain of convenience stores and coffee shops founded by the Sheetz family in 1952 now accepts BTC (bitcoin), ETH (ethereum), LTC (litecoin), DOGE (dogecoin), and other virtual assets as payment for all its outlets in the country.
On May 27, Sheetz announced its partnership with Flexa, which will enable digital currency payments. Commenting on the partnership, Linda Smith, Payments Manager for Sheetz stated:
“Above all else, our mission at Sheetz is to continue providing our customers with the ultimate one-stop shop where they can refuel their car and refresh their body. As a result, we are constantly innovating and exploring new offerings to truly give our customers what they want, when they want it, 24/7/365 — that includes accepting many forms of payment. We’re very excited to be working with Flexa to roll out support for cryptocurrencies and other types of digital assets at our stores.”
Trevor Filter, co-founder of Flexa also commented on its partnership with Sheetz:
“With interest in digital currencies reaching all-time highs, it’s easy to lose sight of the fact that there are real, tangible benefits for the merchants who accept them—not only reduced fraud and cost savings, but also a better and more mobile customer experience.”
He further stated:
“Sheetz is one of the most forward-thinking brands in the business and understands their customer base better than anyone else. We’re absolutely elated that Flexa can help them become the first convenience and retail chain to accept digital currencies directly at the pump.”
Currently, Sheetz has 622 stores in Pennsylvania, North Carolina, Virginia, West Virginia, Ohio, and Maryland. BTC (bitcoin) is again on a dip after a cryptic message by Elon Musk. Will BTC (bitcoin) constantly growing adoption by businesses bring sustainability to the cryptocurrency’s price?
Philippine Major E-Wallet to Adopt Cryptocurrency
GCash, one of the major e-wallet in the Philippines reportedly plans to follow suit with other giant payment apps like Paypal with its recent move of adopting cryptocurrency in its platform.
Martha Sazon, GCash CEO and president, announced that the platform is now considering offering trading services for cryptocurrencies like BTC (bitcoin) to its users.
“While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all types of disruptions out there. It’s important to know what the trends are, whether locally and globally and crypto is part of that.”
According to a report by the Philippine Star, GCash now has 40 million active users across the country. The platform allows its users to shop, save, invest, get insurance coverage, and others.
Despite the market’s volatility, cryptocurrencies remain one of the lucrative investments and have grown immensely due to COVID 19 pandemic.
Bitcoin 2021 Happening in Bitcoin Capital “Miami”
The Bitcoin 2021 Conference is now happening in the Bitcoin Capital “Miami”. The event will be attended by 12,000 attendees and will start on June 4-5 with the biggest bitcoin proponents like Jack Dorsey, Nick Szabo, Michael Saylor, Cynthia Lummis, and Tony Hawk as headline speakers.
On Thursday, the show unofficially kicked off with a “Whale Day” Galaxy CEO Mike Novogratz and BitGo CEO Mike Belshe.
Though the event was initially set in Los Angeles, organizers moved it to Miami due to issues of availability. Along with the attendees is hotel heiress Paris Hilton. Hilton confirmed her attendance in a tweet.
The #CryptoQueen has arrived in #Miami for @TheBitcoinConf! ✈️ So excited to go to the #BitcoinConference to hear all the leaders in this space speak. 😍 I love being a part of this amazing community. 🥰 And can’t wait to perform tonight at @11Miami! 🎶 🎧 👸🏼🎶 🥳 See you there! pic.twitter.com/m24f8WpeIV
— Paris Hilton (@ParisHilton) June 3, 2021
In August 2020, Hilton auctioned an NFT painting of her cat Munchkin and was able to raise 40 ETH or $17,000 at that time. In reports, she admitted her obsession with NFTs.
Going back to Saylor, he remains mum on Musk’s recent tweet so far. With bitcoiners gathered together on this event, are we going to expect a full-force attack on Musk? Your thoughts.