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Elon Musk's Influence on Cryptocurrency Market Quiz
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Elon Musk's Influence on Cryptocurrency Market Quiz

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Questions and Answers

What was Elon Musk's initial reason for Tesla not accepting payments in Bitcoin?

  • Government regulations
  • Environmental concerns (correct)
  • Lack of investor interest
  • High transaction fees

    • How did the world's largest cryptocurrency react to Elon Musk's statement about Tesla not accepting Bitcoin payments?

  • It remained stable
  • It hit a two-month low (correct)
  • It experienced a minor increase
  • It hit an all-time high

    • What was the impact of Elon Musk's statement on Dogecoin?

  • It experienced a slight increase
  • It rallied by about 20 percent (correct)
  • It remained unchanged
  • It plummeted in value

    • What is the reason behind Tesla suspending vehicle purchases using Bitcoin?

    <p>Concern about the rapidly increasing use of fossil fuels for Bitcoin mining and transaction</p> Signup and view all the answers

    How did Elon Musk describe his belief in crypto following the announcement about suspending vehicle purchases using Bitcoin?

    <p>He strongly believes in crypto, but it can't drive a massive increase in fossil fuel use</p> Signup and view all the answers

    How did the market react to Elon Musk's tweet about working with Dogecoin developers to improve system transaction efficiency?

    <p>Dogecoin rallied by about 20 percent</p> Signup and view all the answers

    How has Elon Musk's support varied between Dogecoin and Bitcoin according to the text?

    <p>He has often tweeted in support of Dogecoin, but rarely for Bitcoin</p> Signup and view all the answers

    What was the immediate impact of Elon Musk's recent tweet on the value of Bitcoin?

    <p>It triggered a downward spiral for Bitcoin value</p> Signup and view all the answers

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