Tesla's bitcoin value dives; Musk signals hold with ‘diamond hands’ tweet
Reuters | May 19, 2021 11:10 PM EDT
Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration (Photo : REUTERS/Dado Ruvic/File Photo)
The market value of Tesla Inc's bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker's purchase cost, as the cryptocurrency's value plunged following a crackdown by the Chinese government.
Shares of Tesla Inc were 3% lower on Wednesday afternoon, down more than broader U.S. market indices. Chief Executive Elon Musk signaled that the company still is not selling, tweeting symbols for diamond hands https://twitter.com/elonmusk/status/1395027147161489412 to his 55.3 million followers.