Musk tweet dents bitcoin, but weekly gain in prospect


FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken

© Reuters/Dado Ruvic FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken

SINGAPORE (Reuters) – Bitcoin slipped more than 3% on Friday after Tesla boss Elon Musk fired off a tweet hinting at a breakup with the cryptocurrency, though it remains on course for its best weekly gain in about a month as it tries to recover from May’s crash.

Bitcoin was last down about 3.6% at $37,809. Musk tweeted “#Bitcoin” and a heartbreak emoji above a meme appearing to show a couple discussing their breakup. Bitcoin is up 6.3% this week.

Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin since suspending Tesla plans to take it in payment for cars owing to concerns about its energy use.

(Reporting by Tom Westbrook; Editing by Tom Hogue)

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