Backlash to Elon Musk’s Bitcoin bombshell as traders start to buy the dip

Cointelegraph

Published May 12, 2021 11:00PM ET

Updated May 13, 2021 12:40AM ET

With Tesla’s suspension of Bitcoin payments causing chaos in crypto markets today, critics have targeted CEO Elon Musk’s cavalier attitude to the dramatic effects his words and actions can have on the sector.

On May 13, Tesla (NASDAQ:TSLA) and Musk announced that it had ceased accepting BTC as payment for vehicles due to concerns regarding the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.”

Bitcoin’s Fear and Greed Index

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