The Bachelorette: Bill Goldsmith loses $100,000 in cryptocurrency after Elon Musk crashed the market

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Former Bachelorette star Bill Goldsmith loses $100,000 in cryptocurrency after Elon Musk crashed the market… just a week after telling his fans to ‘invest in Bitcoin’


Former Bachelorette star Bill Goldsmith has lost $100,000 in cryptocurrency, after Elon Musk crashed the market over the weekend.

Last week, the 33-year-old mechanical plumber shared a post to Instagram telling fans to #InvestInBitcoin – but it turns out this wasn’t wise financial advice.

On Wednesday, Bill revealed he had sold his cryptocurrency and suffered a loss of $100,000 after Musk sent the price of Bitcoin tumbling by suggesting in a tweet that Tesla had dumped the remainder of its Bitcoin holdings.

'It's a joke!' Former Bachelorette star Bill Goldsmith (pictured) lost $100,000 in cryptocurrency after Elon Musk crashed the market - just a week after telling his fans to 'invest in Bitcoin'

‘It’s a joke!’ Former Bachelorette star Bill Goldsmith (pictured) lost $100,000 in cryptocurrency after Elon Musk crashed the market – just a week after telling his fans to ‘invest in Bitcoin’

He wrote: ‘Sold all of my crypto, there’s more to life than looking at f**king graphs all day.’

Bill said he was ‘going really good’ with profits of $140,000, ‘then one man tweets some stuff and I lost $100,000’.

‘I can’t live in a world where one bloke has so much power over the market. It’s a f**ken joke,’ he added.

That post didn't age well: Last week, the 33-year-old mechanical plumber shared a post to Instagram telling fans to #InvestInBitcoin - but it turns out this wasn't wise financial advice

That post didn’t age well: Last week, the 33-year-old mechanical plumber shared a post to Instagram telling fans to #InvestInBitcoin – but it turns out this wasn’t wise financial advice 

It comes after Musk sent the price of Bitcoin tumbling as much as 15 per cent over the weekend with tweets saying that his company Tesla would no longer accept the cryptocurrency from customers, citing environmental concerns over the energy used to process transactions.

Tesla holds a reserve of Bitcoin that cost the company about $1.3billion, linking the company’s share price to the volatile cryptocurrency.

On Sunday, Musk suggested in a cryptic tweet that Tesla could have dumped the remainder of its Bitcoin holdings.

That's a shame: On Wednesday, Bill revealed he had sold his cryptocurrency and suffered a loss of $100,000 after Musk sent the price of Bitcoin tumbling by suggesting in a tweet that Tesla had dumped the remainder of its Bitcoin holdings

That’s a shame: On Wednesday, Bill revealed he had sold his cryptocurrency and suffered a loss of $100,000 after Musk sent the price of Bitcoin tumbling by suggesting in a tweet that Tesla had dumped the remainder of its Bitcoin holdings 

Crashed the market: Musk sent the price of Bitcoin tumbling as much as 15 per cent over the weekend with tweets saying his company Tesla would no longer accept the cryptocurrency from customers

Crashed the market: Elon Musk (pictured) sent the price of Bitcoin tumbling as much as 15 per cent over the weekend with tweets saying that his company Tesla would no longer accept the cryptocurrency from customers

But in the early hours of Monday, he tweeted: ‘To clarify speculation, Tesla has not sold any Bitcoin.’

After hitting an all-time high of $64,829.14 last month, the price of Bitcoin dropped below $45,000 for the first time in three months on Monday. The cryptocurrency was at $43,637.90 on Tuesday morning.

Tesla shares also dropped again in early trading on Tuesday, hurt by news that the California Department of Motor Vehicles is reviewing whether Tesla is violating a state regulation by advertising its vehicles as being fully autonomous.

Tweets: Last Wednesday, Tesla announced that it would no longer accept Bitcoin as payment, citing environmental concerns

Tweets: Last Wednesday, Tesla announced that it would no longer accept Bitcoin as payment, citing environmental concerns

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