Elon Musk's Tesla Reportedly Removes Bitcoin As Payment Option, But Keeps Dogecoin
Portfolio Pulse from Mehab Qureshi
Tesla Inc (NASDAQ:TSLA) has reportedly removed Bitcoin (CRYPTO: BTC) as a payment option from its source code, while retaining Dogecoin (CRYPTO: DOGE). This comes amid increased regulatory scrutiny and environmental concerns over Bitcoin. However, Tesla has not officially confirmed this change. The company did not transact in Bitcoin in Q2 2023, and as of June 30, 2023, it held digital assets worth $184 million.
July 24, 2023 | 4:54 am
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NEGATIVE IMPACT
The reported removal of Bitcoin as a payment option by Tesla could potentially impact Bitcoin's price in the short term, especially given the current regulatory scrutiny and environmental concerns.
Tesla's reported decision to remove Bitcoin as a payment option could potentially lead to a negative sentiment among Bitcoin investors, especially given the current regulatory scrutiny and environmental concerns. This could potentially impact Bitcoin's price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
NEUTRAL IMPACT
Tesla's reported removal of Bitcoin as a payment option could potentially impact its stock price. The company's decision to retain Dogecoin, however, could be seen as a positive sign by some investors.
The news of Tesla removing Bitcoin as a payment option could potentially lead to a negative sentiment among investors, especially those who are pro-Bitcoin. However, the company's decision to retain Dogecoin could be seen as a positive sign by some investors, especially given Elon Musk's vocal support for the cryptocurrency. The impact on Tesla's stock price will largely depend on how investors perceive this news.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Tesla's decision to retain Dogecoin as a payment option could potentially have a positive impact on Dogecoin's price in the short term.
Tesla's decision to retain Dogecoin as a payment option could potentially lead to a positive sentiment among Dogecoin investors, especially given Elon Musk's vocal support for the cryptocurrency. This could potentially have a positive impact on Dogecoin's price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75