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Cryptocurrency News: Elon Musk's Impact

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Play an AI-generated podcast conversation about this lesson

It is too volatile

It is too difficult to understand

It is environmentally unsustainable (correct)

It is not widely accepted

They welcomed it (correct)

They criticized it

They ignored it

They were confused by it

It dropped in value

It was delisted from exchanges

It rose by 20 percent (correct)

It became more widely accepted

Tesla CEO Elon Musk tweeted that the company would not accept payments in Bitcoin because of environmental concerns.
This caused a decline in the value of Bitcoin, but the cryptocurrency has since stabilized.
Some Twitter users welcomed Musk's statement, while others saw it as a sign that Bitcoin was not going to replace traditional currencies.
Dogecoin, a cryptocurrency created by Musk's company Tesla, rallied by about 20 percent following the tweets.