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Questions and Answers
What is the main reason Elon Musk gave for not accepting Bitcoin payments?
What is the main reason Elon Musk gave for not accepting Bitcoin payments?
- It is too volatile
- It is too difficult to understand
- It is environmentally unsustainable (correct)
- It is not widely accepted
What was the reaction of some Twitter users to Elon Musk's statement?
What was the reaction of some Twitter users to Elon Musk's statement?
- They welcomed it (correct)
- They criticized it
- They ignored it
- They were confused by it
What happened to Dogecoin following Elon Musk's tweets?
What happened to Dogecoin following Elon Musk's tweets?
- It dropped in value
- It was delisted from exchanges
- It rose by 20 percent (correct)
- It became more widely accepted
Study Notes
- 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.
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Description
Test your knowledge on the recent cryptocurrency events involving Elon Musk's tweets and their impact on the value of Bitcoin and Dogecoin.
