CNBC reported on the 13th that the cryptocurrency (virtual currency) collapsed when Elon Musk Tesla’s CEO canceled the bitcoin payment, evaporating a market cap of $366 billion (412 trillion) in just two hours.
Musk announced that he would cancel the bitcoin payment around 7am KST. At the time, the market cap of the cryptocurrency market was $2.3 trillion, according to CoinMarketCap.
However, as of 9 a.m., about two hours later, the market cap of the cryptocurrency market has decreased to 260 billion dollars. In just two hours, $366 billion was lost.
As of this time, Bitcoin is recording $5,792 on CoinMarket Cap, a decline of 11.68% from 24 hours ago. Not only Bitcoin, but all major cryptocurrencies are plummeting at once.
Musk announced on his Twitter today that it will no longer use Bitcoin for its car payments due to environmental concerns.
