Feb 2021 tesla bought bitcoin worth 1.5 billion dollar whereas current bitcoin holding of tesla is $218 million

However the musk says that sale of bitcoin should not be seen as verdict on bitcoin, the cryptocurrency market is going through cryptowinter.

[{"selector":"#anim-297fe88f-2f7b-4ac4-bac1-08731ffd19aa","keyframes":{"transform":["translate3d(-115.48388%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6a3d346b-5870-484a-870a-3ad9e694be57","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e3b6ed47-ee74-4153-b228-da928714c15b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Elon musk through his tweets and action became one of the prominent influencers in crypto currency space

[{"selector":"#anim-2deb8b1d-a7bb-40c5-9f52-71bac6172cc7","keyframes":{"transform":["translate3d(-116.45161%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cfe9a096-01fe-4d69-aa99-524356cccde5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-84e7bfed-b0e1-4ff0-a725-fe787d113a83","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Musk acceptance of bitcoin as payment for tesla electric vehicle boosted the confidence in bitcoin that cryptocurrency can become valid means of exchange

[{"selector":"#anim-8290627e-eb52-4da1-95d6-3f9f0677e671","keyframes":{"transform":["translate3d(-107.28291%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-faf56e7d-3f01-45d0-8cb9-ea07a8f148b5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8d5c13d-45a9-425a-a302-275bd42846f2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

However shortly he withdrew the proposal of accepting the cryptocurrency bitcoin as medium of payment citing environmental concerns

[{"selector":"#anim-e7952d53-5362-46e6-bed0-4607ed1813f4","keyframes":{"transform":["translate3d(-107.56303%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81b4c419-f49b-420c-b8b5-53b681245f52","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-73550259-009e-48e6-a658-d1b90d7b5a2d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Still he supported dogecoin his action spoke louder such as in a massive party for Austin factory a drone flew displaying a big picture of dogecoin mascot

[{"selector":"#anim-d229e9e6-789b-4f93-8b57-90501b875058","keyframes":{"transform":["translate3d(-114.76924%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-56d792d3-1261-4528-bae9-65be161b9301","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f3a3764c-3848-44aa-96d8-fc8b5140cced","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

News suggests that musk is working with dogecoin developers to make their transaction energy efficient and environment friendly

[{"selector":"#anim-b6a542bd-baee-406e-98f0-a296083838c9","keyframes":{"transform":["translate3d(-116.94916%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7bd51361-bb82-40f5-9648-cad7225b2f99","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-40fbf9c2-bd91-4a05-a2f3-ef840b7f62dc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

How much the cryptocurrency is able to fare in cryptowinter is still a question that needs to see what alternatives the innovative market of cryptodevelopers have to offer

[{"selector":"#anim-24efa22a-37d6-4ba5-ba68-7ae6aa6f464d","keyframes":{"transform":["translate3d(-114.37309%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ca91be0-c3d2-4c04-aeef-b82fabb7d7af","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a0ff8c77-7161-4553-bcf3-dc70ff4ec781","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]