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Seeking Alpha 2021-05-17 07:56:28

Bitcoin hovers near $45,000 as Musk clarifies Tesla hasn't sold any of its holdings

Cryptocurrency is still under pressure this morning following tweets from Tesla (TSLA) CEO Elon Musk that rattled the market over the weekend.Bitcoin (BTC-USD) is down 8% to about $45,000, but it's off its lows today of just below $43,000.Ethereum (ETH-UDS) is off 9% to around $3,500, with earlier lows nearing $3,100.Dogecoin (DOGE-USD) is down 5.5% to about $0.59, having hit $0.45 earlier."To clarify speculation, Tesla has not sold any Bitcoin," Musk tweeted just before 2 a.m. ET.A Twitter war broke out over the weekend between Musk and bitcoin fans, with Musk suggesting Sunday that Tesla has already or intends to unload its $1.5B in bitcoin holdings.Musk was "taking on all comers on Twitter over the weekend and caused some chunky gyrations across the coins," Chris Weston, head of research at Pepperstone Group, writes in a note, according to Bloomberg.Musk began Sunday afternoon by making fun of Microstrategy's (MSTR) Michael Saylor, and things devolved from there. At one

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