--- title: "Elon Musk Says He’s Broken Up With Cryptocurrency" description: "In a series of cryptic tweets, Tesla CEO Elon Musk announced that he has broken up with cryptocurrencies." date: "2021-06-04" modified: "2021-06-05" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/elon-musk-broken-up-cryptocurrency" categories: - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Elon Musk" - "Future Society" - "The Industrialists" tags: - "bitcoin" - "cryptocurrencies" - "dogecoin" - "elon musk" - "the digest" --- # Elon Musk Says He’s Broken Up With Cryptocurrency ![In a series of cryptic tweets, Tesla CEO Elon Musk announced that he has broken up with cryptocurrencies.]() *\Image: Daniel Oberhaus/Futurism\* ## Bitcoin Breakup It's over. Tesla CEO Elon Musk seemingly announced last night that he has broken up with cryptocurrencies. In a [series of C-tier memes](), Musk spelled out the apparent breakup on his Twitter account. https://twitter.com/elonmusk/status/1400620080090730501 Unsurprisingly, Bitcoin stumbled as a result, falling by almost five percent from its price Thursday evening, [as *The Wall Street Journal* reports]() — yet another illustration of the sheer power the billionaire wields over the fate of crypto markets. ## Broken Trust Shibetoshi Nakamoto, a pseudonym for Billy Markus, creator of popular alternative cryptocurrency Dogecoin — a token once loved by Musk — voiced his discontent in a reply on Twitter. "Elon... I put my trust in you," [Markus wrote](), in a tweet that he [later clarified]() had been a joke about the lyrics to a song by the nu metal band Linkin Park. Other cryptocurrencies fell as well, with Ether dropping some six percent over a similar time period and Dogecoin plummeting by more than nine percent, according to the *WSJ*. Bitcoin has been on an [extended decline for almost a month](), ever since Musk announced Tesla would no longer accept Bitcoin as payment. ## Crypto Futures The big question looming on the horizon now is what cryptocurrency markets will look like without Musk exerting his considerable influence. And some aren't entirely convinced Musk has broken up with crypto for good. "It’s a love and hate relationship," Naeem Aslam, chief market analyst at brokerage AvaTrade, told the *WSJ*. "It’s not clear whether he wants to leave bitcoin: His tweets are very cryptic and keep people on their toes." It wouldn't be Bitcoin's first boom and bust cycle. The digital currency has gone through plenty of highs and lows in the past. But whether that will continue with Musk out of the picture — or if he'll be able to help himself — is anything but certain. *Updated with additional clarity from Billy Markus about the context of his reply to Elon Musk.* **READ MORE:** [Bitcoin Price Slips on Elon Musk’s Breakup Meme Tweet]() \[*The Wall Street Journal*\] **More on Elon:** *[Elon Musk Tweets About “Baby Shark,” Causing Financial Chaos]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()