Elon Musk and the Digital Currency Market

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Questions and Answers

Why did Elon Musk say that Tesla will not accept payments in Bitcoin?

Because of regulatory issues
Because of environmental concerns (correct)
Because Dogecoin is a better cryptocurrency
Because Bitcoin is too volatile

What happened to the price of Bitcoin after Elon Musk's announcement?

It hit a two-month low (correct)
It increased significantly
It reached an all-time high
It remained unchanged

Which cryptocurrency did Elon Musk mention he was working with developers to improve system transaction efficiency?

Ethereum
Bitcoin
Litecoin
Dogecoin (correct)

What is Elon Musk's stance on Dogecoin compared to Bitcoin, according to the text?

He supports Dogecoin more than Bitcoin (C) Signup and view all the answers

Why did Tesla suspend vehicle purchases using cryptocurrency, according to Elon Musk's tweet?

Due to the rapidly increasing use of fossil fuels for cryptocurrency mining and transactions (B) Signup and view all the answers

Match the following statements with the corresponding cryptocurrencies:

Bitcoin = Tesla suspended vehicle purchases using this cryptocurrency due to environmental concerns Dogecoin = Elon Musk is working with developers to improve this cryptocurrency's system transaction efficiency Signup and view all the answers

Match the following individuals with their actions:

Elon Musk = Working to improve Dogecoin's system transaction efficiency Signup and view all the answers

Match the following companies with their related cryptocurrency actions:

Tesla = Concerned about the use of fossil fuels for Bitcoin mining SpaceX = CEO tweets in support of Dogecoin Signup and view all the answers

Match the following cryptocurrencies with their related events:

Bitcoin = Tesla suspended its acceptance due to environmental concerns Dogecoin = Elon Musk is working with developers to improve its transaction efficiency Signup and view all the answers

Match the following statements with their corresponding actions from Elon Musk:

Working to improve system transaction efficiency = Dogecoin Concern about the use of fossil fuels for cryptocurrency mining = Bitcoin Tesla will not accept payments in this cryptocurrency = Bitcoin Strongly believe in crypto, but it can't drive a massive increase in fossil fuel use = General crypto stance Signup and view all the answers

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