Tesla’s still a Bitcoin HODLer and SEC was hacked via simswap

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Last Updated on 26 January 2024 by CryptoTips.eu

While we are in waiting mode to discover whether the bounce we saw on Wednesday is confirmed (the support point for Bitcoin would in this case be around $38,500) on the daily charts, there is still a lot of news for the cryptosphere.

It turns out that Tesla no longer sells its Bitcoins but keeps them for the long term and the American stock market watchdog SEC had to admit that their Twitter (now X) account was hacked in a very clumsy way.

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BYD

Tesla, the American electric car builder, is holding on to its Bitcoins. According to the latest quarterly report, Elon Musk’s company did not sell any of their 9,720 Bitcoins in the past three months. Musk, who is known as a big crypto fan, apparently gave the order to HODL.

The company itself is doing less well, mainly due to competition from various Chinese car manufacturers who have switched to the production of electric cars more easily (the Chinese BYD is now the global market leader) than most of the European or American brands.

Simswap

Days before the official approval of a Bitcoin ETF earlier this month, the US stock market watchdog’s social media account was hacked and someone tweeted “Bitcoin,” sending the price of the largest digital coin soaring by thousands of dollars to $48,000 within mere minutes. Someone made a lot of money within those minutes because afterwards Bitcoin fell sharply again to $45,000.

The SEC admitted earlier this week that an unknown individual changed the password for the agency’s account after gaining control of an employee’s phone number, or a so-called SIM swap.

During a SIM swap, a hacker gains control of a company’s phone by convincing a person from the telephone company that their phone has been stolen and they need a new SIM for that number.

The SEC did not provide any further details, but there is great surprise in the American media that it was so easy to hack the SEC’s social media account.

Ultimately, the SEC approved nearly a dozen Bitcoin ETF funds the next day, sending Bitcoin soaring to $49,000 again.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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