Musk Goes Woke & Tesla Goes Broke + SEC Investigating Binance & BITCOIN BOUNCES OFF 21 WMA…
Hello & Welcome to the Simply Hodl Crypto Blog #12 ( update for 5/13/21)
There has been a LOT going on in the markets today so let’s get right into it.
The price of bitcoin has [taken a serious dip below $50,000 & wen’t as low as $45k before coming back to it’s price as of writing of just above $50,000.] The cause of this could be several things ( or all of them ), but one of the biggest new events of the day is of course [Elon Musk tweeting that TESLA will no longer accept Bitcoin for purchases].
The Crypto community was largely not happy about this; as Musk [cited Bitcoin mining’s environmental impact to climate change] as his reasoning behind his decision. Even though anyone with enough time or research ( or money..hint hint Elon ) would absolutely already know [the truth about Bitcoin Mining is that it is BETTER for the environment than FiAT]. Take that, Elon. Of course, the self proclaimed Former “CEO Of Dogecoin” did tweet out a semi [backtrack tweet], saying he feels “strongly” about Crypto being a big part of the future.
According to Musk, they are looking at crypto’s that have less than %1 of Bitcoins energy use. [Could TESLA be looking for Cardano?] It’s likely, but who knows? Cardano did hit [an all time high of $2.00 today while the rest of the market turned bloody], but time will tell if they partner up with TESLA.
A couple other things that could be effecting the price of Bitcoin is the fact that in the U.S.A, [ tax day is in five days], so many investors may be looking to take profits now for tax purposes – only to buy back in after the 15th. (The traditional tax day in the USA is April 15th but it was extended due to the thing you know the one). ALSO, it’s worth noting that the [SEC and the IRS announced they will be looking into BINANCE] – but if you’re in the USA don’t fret as Binance USA and regular Binance are separate.
SO that covers the biggest stories today (so far!) for Bitcoin; thanks for reading & remember you can always check out EVEN MORE fresh links on [the simply hodl home page]. I hope everyone out there has a good day and keeps their HODL HANDS strong! If you want a detailed, well thought out video to take this ugly bag of snakes and lay them out straight for you in under 40 minutes – then you HAVE to go over to [Contrarian Dude’s YouTube channel} and watch his break down he recorded TODAY ( 5/13/21 ) – because it’s some of the best info you’re going to find on the subject. Remember to smash that subscribe button while you’re there!
and as always WHEN IN DOUBT, ZOOM OUT!!
P.S- If you enjoyed reading this; check out yesterday’s blog too 😀 :