And it didn’t stop there — in 2020, Musk tweeted against his own company. He said that Tesla’s stock was “too high,” causing his company’s shares an instant 10% downturn. Last week, Musk told his followers to “use signal” as an alternative to Whatsapp. The tweet accidentally contributed to the rise of a wrong company, giving its stock a 1,100% price increase.
Cryptocurrency exchanges halt after Elon’s tweet
Binance the largest cryptocurrency in the world, temporarily suspended withdrawals on Friday. According to the company’s CEO Changpeng Zhao, the exchange platform was overloaded.
Furthermore, Zhao said that Elon Musk’s adding the word #Bitcoin to his Twitter profile resulted in massive traffic that the exchange couldn’t bear. Zhao told Decrypt that Binance has seen “exponential growth in user traffic, trading volumes, and deposit & withdrawal volumes, and system load across the board.”
Binance’s CEO added: “It could have been Elon’s Twitter profile change. It could have been WallStreetBets. It could have been some whales in Asia or Uganda or 1,000 other potential reasons. There is no way to be 100% sure. It’s all likely, but who knows.”
