Tesla CEO Elon Musk or institutional investors? What drives the Bitcoin price? : News Reel: Business Today
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Tesla CEO Elon Musk or institutional investors? What drives the Bitcoin price?

Avneet Kaur | February 23, 2021

Tesla CEO, Elon Musk's recent tweets have fuelled the rally in Bitcoin, Dogecoin. While his tweets in support drive the prices of cryptocurrencies up, his recent remark on Twitter 'BTC & ETH do seem high' pulled the prices of these digiassets down. "What Elon Musk tweets about, when he actually moves people to action, there's something more than just his opinion. He is pushing people to take interest in it. The $1.5 billion that Tesla invested in Bitcoin shows -- somebody who truly knows value and is able to see forward in time and able to spot good trend. It made a lot of people thing if he can do it, so can I. I am sure every corporate boardroom is talking Bitcoin, the same way in 1999 they were discussing the dotcom," says Vikram Rangala, Chief Marketing Officer, ZebPay. Watch as he speaks to Business Today's Avneet Kaur about what drives the Bitcoin price.

Also Read: 'Bitcoin will touch $100,000 soon, it's not a bubble,' say cryptocurrency experts



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