Elon Musk's Influence on Cryptocurrency Market Quiz
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Questions and Answers

What was the reason cited by Elon Musk for Tesla not accepting payments in Bitcoin?

  • Rapidly increasing use of fossil fuels for Bitcoin mining
  • Mismanagement of Bitcoin by its developers
  • Lack of transaction efficiency in Bitcoin
  • Concerns about the environmental impact of Bitcoin (correct)

    • How did the value of Bitcoin and Dogecoin react after Elon Musk's statements?

  • Both Bitcoin and Dogecoin values increased
  • Both Bitcoin and Dogecoin values decreased
  • Bitcoin value decreased, Dogecoin value increased (correct)
  • Bitcoin value increased, Dogecoin value decreased

    • What was the focus of Elon Musk's recent tweets in relation to cryptocurrencies?

  • Expressing concern about the environmental impact of cryptocurrency (correct)
  • Promoting the efficiency of Bitcoin transactions
  • Supporting the use of fossil fuels for cryptocurrency mining
  • Advocating for the adoption of cryptocurrency as the world's future currency

    • How did Elon Musk's tweets affect the value of Bitcoin?

    <p>Caused a downward spiral for Bitcoin value initially but then stabilized</p> Signup and view all the answers

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