Elon Musk Tweets and Sends Bitcoin on a Wild Ride Down, and Part Way Back Up Again

MARKET MOVER

A one-word tweet caused the cryptocurrency to lose $135 billion on Sunday. A followup post this morning sent it rocketing. No wonder investors are getting tired of this game.

European Editor at Large

Published May 17 2021 8:18AM EDT

GettyImages-1130598362_qsjfrr — FREDERIC J. BROWN/AFP via Getty Images

Bitcoin has been on a roller-coaster ride over the past 24 hours after a one-word tweet Sunday night by Elon Musk caused the cryptocurrency to dump 15 percent of its value.

Tom Sykes

European Editor at Large

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Elon Musk Tweets and Sends Bitcoin on a Wild Ride Down, and Part Way Back Up Again

A one-word tweet caused the cryptocurrency to lose $135 billion on Sunday. A followup post this morning sent it rocketing. No wonder investors are getting tired of this game.

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Tom Sykes