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?

    <p>He supports Dogecoin more than Bitcoin</p> Signup and view all the answers

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

    <p>Due to the rapidly increasing use of fossil fuels for cryptocurrency mining and transactions</p> Signup and view all the answers

    Match the following statements with the corresponding cryptocurrencies:

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

    Match the following individuals with their actions:

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

    Match the following companies with their related cryptocurrency actions:

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

    Match the following cryptocurrencies with their related events:

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

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

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

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