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Bitcoin rallies from price plunge after Elon Musk's tweet shakes crypto market

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Investors are facing a whirlwind of uncertainty after Tesla CEO Elon Musk implied that his company may be selling its Bitcoin holdings. The rumours caused the cryptocurrency market to plunge before Musk clarified in a tweet on Monday that Tesla actually hasn't made a move to sell its Bitcoin just yet.

Bitcoin saw a major tumble in value after Musk tweeted last week that Tesla would no longer be accepting the cryptocurrency because of concerns of its environmental footprint as payment for vehicles. Then, over the weekend, there was a pick-up in that sell-off.

Business reporter Anne Gaviola has more on what traders have dubbed 'Manic Monday,' which saw half a trillion dollars worth of value wiped out off the crypto markets.

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Category
U.S. & Canada
Tags
global news, bitcoin, bitcoin elon musk
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