Bitcoin (BTC), fell $1,400 in less than an hour on Nov. 9, after Tesla’s stock snap sale.
BTC/USD 1-hour candle charts (Bitstamp). Source: TradingView
Tesla falls 12%, Bitcoin 2%
Cointelegraph Markets Pro and TradingView data showed that BTC/USD fell in line with TSLA just after Wall St. opened.
The pair reached $66,650 before they bounced to linger at $67,000 at the time. That’s still an increase of $1,000.
Tesla’s Friday high of $1,245 was broken by turbulence when it became known that Elon Musk, Tesla’s CEO, would be selling 10% of his holdings, which were worth approximately $23 billion.
Tuesday saw a dramatic acceleration in the negative mood with TSLA losing up to 12% within minutes of its recovery. BTC, however, fell only 2%.
$TSLA 1-hour candle graph. Source: TradingView
Cook: Apple will not accept crypto
This move seemed to eclipse news that Apple CEO Tim Book owned cryptocurrency. Cook said that there was no plan to accept or purchase corporate crypto, but he did not seem optimistic.
Related: Coinbase gains #1 spot on Apple App Store, as Crypto.com leaps to third
“I do. “I think it’s reasonable for it to be part of a diversified portfolio,” he stated at the DealBook conference, as quoted by CNBC.
Cointelegraph reported that Musk is still much more involved in Bitcoin and other altcoins. Tesla has retained its $1.5 billion BTC allocation, which it had earlier this year.
“If Apple added support for Bitcoin to iPhone and converted their treasury into a Bitcoin Standard it would be worth at most a trillion dollars to shareholders,” MicroStrategy CEO Michael Saylor responded to Cook’s comments.