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Elon Musk blows up Wall Street’s case for bitcoin

Yakob Peterseil and Anchalee Worrachate

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Elon Musk helped legitimise cryptocurrencies in the eyes of Wall Street investors. Now, his tweets are scaring them off.

About a quarter of bitcoin’s value has been wiped away in the span of a week, in part thanks to headspinning tweets from Musk on everything from bitcoin’s toll on the environment to whether Dogecoin is the better digital currency.

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    Original URL: https://www.afr.com/markets/currencies/elon-musk-blows-up-wall-street-s-case-for-bitcoin-20210518-p57sqw