Bitcoin (CRYPTO:BTC) mining stocks Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Blockchain Inc (NASDAQ:RIOT) are trading lower Wednesday morning as Bitcoin falls to new four-month lows.
What Happened: Bitcoin has been steadily declining since Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced that the company would stop accepting Bitcoin payments for its vehicles, citing environmental concerns.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Price Action: Bitcoin is down 29.30% over a one-month period, although it's still up 34.31% year to date.
At last check Wednesday, Bitcoin was down 10.61% at $38,759.
See also: How to Buy Bitcoin (BTC)
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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