Elon Musk’s cryptic Linkin’ Park-themed meme sends Bitcoin value plummeting
Elon Musk sent Bitcoin'svalue into free fall after sharing a cheeky meme about Linkin Park.
The SpaceX and Tesla CEO posted a meme that featured lyrics from the US rock band's hit single In The End with the hashtag £Bitcoin and a broken heart emoji.
It also featured a couple splitting up, suggesting the billionaire's relationship with cryptocurrency was over.
The tweet caused Bitcoin's value to nosedive by 6%, while others also dropped, including Ethereum (7%) and Dogecoin (8%).
It also attracted a string of replies from tech leaders on Twitter.
Billy Markus, who co-created Dogecoin, wrote: "Elon… I put my trust in you.
Musk replied to it with another meme referring to the Federal Reserves' reaction to the statement: "Dogecoin is just made up money with infinite supply."
Entrepreneur Justin Sun posted: "I will buy all the #Bitcoin that Elon Musk sells."
Another jokingly referenced Musk's ability to sway cryptocurrency values, saying: "Nooooo. I was just about 10% from breaking even and now the crypto market has crashed again. Why do you do this to us?"
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One Twitter user even suggested the tech billionaire should stick to his space endeavours.
It is not the first time Musk's social media activity has influenced cryptocurrency values.
Last month, he announced Tesla would no longer accept Bitcoin payments for its electric cars, causing a minor cryptocurrency crash.
"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," he tweeted at the time.
"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment.
"Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.
"We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction."
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