Elon Musk helped legitimize cryptocurrencies in the eyes of Wall Street investors. Now, his tweets are scaring them off. About a quarter of bitcoin's value has been wiped away in the span of a week, in part thanks to head-spinning tweets from Musk on everything from bitcoin's toll on the environment to whether dogecoin is the better digital currency.
The token is now worth about as much as it was in February, when Tesla first disclosed its intention to buy some.
Musk has always been tongue in cheek with his crypto dabbling, but his latest posts have sown confusion across the industry and revived the debate over whether the nascent asset class is a serious investment.
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