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Under the helm of Elon Musk, Twitter is expected to transition to a privately-held company amid new features and functions

Tesla chief says the company will accept Dogecoin payments for merchandise “and see how it goes”

Musk’s latest tweet struck investors bullish, rocketing the price to a $41,067.74 high in the past 24 hours, the highest the coin has been valued in around two weeks.

“There appears to be a positive trend in energy for bitcoin,” Elon Musk said during the “Bitcoin as a Tool for Economic Empowerment” session at The B-Word conference.

Tesla buyers will be able to pay using bitcoin once 50% of mining energy comes from renewables, Musk said Wednesday.

While Musk’s influence on the price of bitcoin is not a surprise, it’s still shocking to realize how much difference one tweet by the Technoking can make.

A fatal cocktail of factors, one part Elon and ESG mandates, another part China, and a dash of questions about Tether, led to the selloff.

“It’s easy to get buried in the volatility of the day; Elon Musk’s Twitter comments, bitcoin going down 4,000 points, and everyone starts running around like chickens with their head cut off,” said Mike Novogratz, Galaxy’s CEO and founder, on Monday’s earnings call.

Musk suggesting that Tesla might sell bitcoin holdings, but confirming the company hasn’t yet, sent the price tumbling. This presents a massive problem.

Get your weekend macro fix with Blockworks’ own Mike Ippolito and Tyler Neville.