Bitcoin, Ethereum Spiral Down As Elon Musk Posts Bitcoin Broken Heart Tweet

Bitcoin (BTC) tumbled down after Tesla Inc TSLA posted a meme on Twitter Inc’s TWTR platform with a broken heart emoji on Thursday night.

What Happened: Musk’s tweet simply said Bitcoin with the broken heart emoji and appeared to feature a couple going through a breakup.

#Bitcoin pic.twitter.com/lNnEfMdtJf
— Elon Musk (@elonmusk) June 4, 2021

At around the time of Musk’s tweet, Bitcoin slipped from above $38,000 levels to the press time price of $37,762.74. Over 24-hours BTC is up 1.03%.

Bitcoin Price Post Musk Tweet, Courtesy CoinMarketCap

See Also: How to Buy Bitcoin (BTC)

Ethereum (ETH) too followed suit falling from $2,800 levels to $2,724.38 at press time. Over 24-hours ETH gained 1.5%.

Ethereum Price Post Musk Tweet, Courtesy CoinMarketCap

Musk entered into a Twitter exchange with a social media user who posted a meme showcasing “Crypto Twitter” reaction to Musk’s tweets.

Crypto Twitter when Elon posts about #Bitcoin pic.twitter.com/JSAw0MXK9Q
— JRNY Crypto (@JRNYcrypto) June 4, 2021

Needs laser eyes too
— Elon Musk (@elonmusk) June 4, 2021

In yet another tweet Musk seems to make a reference to his actions leading to a fall in Bitcoin price.

pic.twitter.com/MLhu6oOwgc
— Elon Musk (@elonmusk) June 4, 2021

Why It Matters: Last month, Musk entered a war of words with Bitcoin aficionados but during the course of his exchanges clarified that Tesla had not shed its BTC holdings.

Tesla suspended BTC payments last month which Musk attributed to environmental concerns.

Post the suspension, Musk announced he was working with Dogecoin (DOGE) developers to improve that cryptocurrency’s “system transaction efficiency.”

On Thursday, Dogecoin co-creator Billy Markus replied to Musk’s meme on Twitter by saying, “Elon… I put my trust in you,” also an apparent reference to the Linkin Park song “In The End.”

Justin Sun, the founder of Tron (TRX), had his say on Musk’s meme as well.