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Bitcoin crash wipes out nearly all the cryptocurrency's gains for 2021 - CBS News
Jun 22, 2021 35 secs
June 22, 2021 / 4:11 PM.

The price of bitcoin continues to swoon, sliding below $30,000 in early trading on Tuesday and giving up nearly all of the digital currency's gains for the year, according to Coindesk.

In a series of tweets that have since been deleted, he predicted the "mother of all crashes" linked to heavy bets by millions of investors on cryptocurrencies and so-called "meme stocks" like Gamestop, according to Bloomberg.

The price shot up in February after he announced that Tesla had bought $1.5 billion worth of bitcoin and continued to climb the following month when the company started accepting the asset as payment for its vehicles. .

First published on June 22, 2021 / 4:11 PM

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