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Cryptocurrency and Elon Musk Quiz

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Questions and Answers

What triggered a downward spiral for Bitcoin value?

Elon Musk's rare tweet in support of Bitcoin

Tesla's statement about suspending vehicle purchases using Bitcoin (correct)

Elon Musk's tweet in support of Dogecoin

Twitter users welcoming Musk's statement

What did Elon Musk's tweet lead to in the Dogecoin market?

Two-month low

Stabilization

No significant impact

Rally by about 20 percent (correct)

What was the reason mentioned for Tesla's decision to not accept payments in Bitcoin?

Elon Musk's preference for Dogecoin

Concern about rapidly increasing use of fossil fuels for Bitcoin mining and transaction (correct)

Pressure from other cryptocurrency developers

Lack of interest in Bitcoin

What did one of the Twitter users welcome in response to Musk's statement?

<p>Musk's statement about the impact of fossil fuel use on crypto</p> Signup and view all the answers

What did Elon Musk state he strongly believes in, despite concerns about its impact on fossil fuel use?

<p>Crypto</p> Signup and view all the answers

Study Notes

Bitcoin and Tesla's Decision

A downward spiral for Bitcoin value was triggered by Tesla's decision to stop accepting payments in Bitcoin.
The reason mentioned for Tesla's decision was due to concerns about the rapidly increasing use of fossil fuels for Bitcoin mining.

Elon Musk's Tweets and Dogecoin

Elon Musk's tweet led to a surge in the Dogecoin market.
In response to Musk's statement, one of the Twitter users welcomed the use of Dogecoin as a more environmentally friendly alternative.

Elon Musk's Beliefs

Despite concerns about its impact on fossil fuel use, Elon Musk strongly believes in cryptocurrency.

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Description

Test your knowledge of cryptocurrency and Elon Musk's influence on the market in this quiz. Explore topics such as Bitcoin, Dogecoin, environmental concerns, and the impact of influential figures on the digital currency market.