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Bitcoin erases all gains since Tesla's announcement that it would accept it as form of payment

Bloomberg
Bloomberg5/19/2021 4:14 PM GMT+08  • 3 min read
Bitcoin erases all gains since Tesla's announcement that it would accept it as form of payment
Bitcoin has dropped roughly 40% from its record of almost US$65,000 and was trading US$39,360 as of 6:30am in London.
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Photo: Bloomberg

What Elon Musk giveth, he also taketh away.

Bitcoin has erased all the gains it notched following Tesla Inc.’s Feb 8 announcement that it would use corporate cash to buy the digital asset and accept it as a form of payment for its vehicles.

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