One little tweet from Elon Musk and bitcoin bounces back

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One little tweet from Elon Musk and bitcoin bounces back

Tesla CEO’s recent online commentary on virtual currencies has sent conflicting messages

Joanna Ossinger

Bitcoin steadied after Elon Musk said Tesla hasn’t sold from its holdings of the token, clarifying earlier comments that seemed to imply the electric vehicle maker may sell or has sold its stake.

The largest digital currency was at $44,900 (R637,000) up to 7.21am in London on Monday, after Musk in a tweet said: “To clarify speculation, Tesla has not sold any bitcoin.” Earlier, the token slid to $42,185 (R595,000), the lowest since February. It’s about $20,000 (R283,000) off the record set in April.

Tesla CEO Musk spent the past few days duelling on Twitter with critics of his move to suspend acceptance of bitcoin payments on environmental concerns. On Sunday, the mercurial billionaire seemed to agree with a post saying the electric-vehicle maker should divest what at one point was a $1.5bn (R22bn) bitcoin stake. The saga added to a souring mood around cryptos in general, amid a pullback in other coins like ether and dogecoin...

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