Bitcoin, Ethereum & Dogecoin Helped by Elon Musk’s Tweet

Nikos Tzabouras Written by Nikos Tzabouras

Elon Musk on Cryptos

Mr Musk is known for being vocal around cryptocurrencies and earlier today, he twitted that "I still own & won't sell my Bitcoin, Ethereum or Doge fwiw". [1]

After this, price of DOGE/USD spiked up to 0.122, but rejected last week's high (0.125) and quickly gave up much of the move. The crypto is running its fourth straight negative month against the USD.

BTC/USD and ETH/USD were helped by mr Musk's comments.

Earlier in the year, Tesla's CEO, had twitted that the electric vehicle (EV) maker accepted Dogecoin as a form of payment for brand merchandise. [2]

Tesla has Bitcoin holdings and had briefly accepted it as a payment for sales of certain products in specified regions. In an SEC filing last month, it said it had recorded $101 million of impairment losses on Bitcoin, during 2021, but had also realized gains of $128 million in connection with selling a portion of the holdings in March 2021. [3]

Nikos Tzabouras

Senior Financial Editorial Writer

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.

As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.

References

1

Retrieved 14 Mar 2022 https://twitter.com/elonmusk/status/1503222294277197829

2

Retrieved 14 Mar 2022 https://twitter.com/elonmusk/status/1481873421390680065

3

Retrieved 18 May 2026 https://www.sec.gov/Archives/edgar/data/1318605/000095017022000796/tsla-20211231.htm

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