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A Reddit poster that claimed to be aware of Tesla Inc. (NASDAQ: TSLA) Investing in Bitcoin (BTC) confirmed that the information it released on January 2 was not true, the New York Post reported on Tuesday.
What happened: After Tesla announced its investment in Bitcoin on Monday, attention turned to user TSLAInsider’s Reddit post published five weeks earlier.
“I’m a software developer working in R&D at Tesla in California, in the last 72 hours our company bought 24,701 BTC for an average price of $ 33,142,” the user with the handle TSLAinsider said on Reddit on last month, ”the post read, as reported by Reuters.
The Post claimed that the Reddit user behind the TSLAInsider descriptor was a 24-year-old German political science student named Hendrik.
“If you want to know the truth: I’m a young German and I was on Acid while doing this post last month,” Hendrik told The Post in an interview.
“I had this claim that Elon was going to buy Bitcoin, so I created this trollpost. And now every newspaper all over the world is talking about it, it’s kinda funny and scary to be honest.
The user posted a link to the post’s story and appeared to corroborate it.
Why is this important: The Reddit forums have been increasingly in the spotlight since r / WallStreetBets took the Wall Street bigwigs head-on with a short squeeze on the stocks of GameStop Corp (NYSE: GME), AMC Entertainment Holdings Inc (NYSE: AMC), Blackberry Ltd (NYSE: BB) et al.
See Also: Reddit Pays Homage To GameStop’s ‘Underdogs’ In 5-Second Super Bowl Commercial
Treasury Secretary Janet Yellen said last week that financial market regulators must take stock of the frenzy surrounding GameStop and other actions before taking action, according to Reuters.
The social media platform doubled its valuation to $ 6 billion by raising $ 250 million in Series E funding from existing and new investors.
Bitcoin hit an all-time high of $ 48,003.72 on Tuesday after Tesla’s announcement. The cryptocurrency was trading 0.10% higher at $ 46,392.83 at press time.
Tuesday, Bitcoin Trust in Grayscale (OTC: GBTC) closed up 4.84% at $ 47.90.
Price action: Tesla stock closed nearly 1.6% at $ 849.46 on Tuesday and fell 0.47% in the after-hours session.
Read more: Here’s how Tesla could let you buy an electric vehicle with Bitcoin
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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