Bitcoin Value Decreases by 8.5% After Elon Musk’s One-Word Tweet

Known for his infamous cryptocurrency tweets, Musk has sent the value of bitcoin down by 17 percent after his announcement to withdraw Tesla’s acceptance of bitcoin payments. After the Sunday tweet, the value of the cryptocurrency traded down 8.5 percent below $45,000 USD a coin.

On Twitter, a user mentioned that those holding BTC should brace when they find out that Telsa has sold off its entire Bitcoin holdings. The Tesla Motors CEO tweeted, “Indeed.” The tweet does not directly mean that Tesla has already sold its bitcoin holdings, but it is enough to create some FUD.