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Bitcoin retains $65K after Elon Musk sell-off sees BTC pass Tesla market cap
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Bitcoin (BTC) held $65,000 during Nov. 8 as major gains seemed unfazed by Tesla (TSLA) stock losing 5% at the Wall Street open.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD down around $900 at $65,500 after hitting highs of $66,433 on Bitstamp.
Overnight success was tapered by news that Tesla CEO Elon Musk would sell 10% of his Tesla holdings worth around $23 billion — simply because Twitter users voted for him to do so.
Markets reacted cautiously, with TSLA initially opening at $1,150 after closing Friday at $1,221 before a modest recovery ensued.
Aside from being nine months to the day that Tesla purchased $1.5 billion of Bitcoin for its balance sheet, the move from Musk produced an unintended consequence — Bitcoin
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