Download the all-new Republic app:

Published 13:08 IST, February 10th 2021

Reddit user claiming to be Tesla employee reveals he lied in Bitcoin investment post

Tesla on Monday announced it has bought bitcoin worth $1.50 billion and will soon start accepting cryptocurrency as a form of payment for its products.

Reported by: Vishal Tiwari
Follow: Google News Icon
  • share
null | Image: self
Advertisement

Tesla on Monday announced it has bought bitcoin worth $1.50 billion and will soon start accepting cryptocurrency as a form of payment for its products. The announcement led to a massive surge in bitcoin's market value, resulting in enthusiasts revisiting a Reddit post from last month, which claimed Tesla is investing in cryptocurrency. However, the Reddit user, who claimed to be a company insider and said Tesla was buying bitcoin, has revealed that he lied in his post and was high on Acid when he shared it.

Read: Is Apple Buying Bitcoin After Tesla Invested $1.5 Billion? Read To Find Out

Advertisement

"I am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$. I have no idea what will happen once this reaches the newspapers but I think the price will explode even more," the Reddit user named TSLAinsider posted last month. 

Read: Tesla Buys $1.5 Billion In Bitcoin, To Accept Cryptocurrency As Payment For Tesla Cars

Advertisement

Tesla 'insider' turns out to be a prankster 

According to the New York Post, who spoke to the creator of the Reddit post, the user lied about working at Tesla's R&D facility in California and is actually a prankster. The user told the New York Post that he is from Germany and was high on Acid when he created that troll post. The user told the New York Post that he got this intuition last month that Tesla would buy bitcoin, so he created the troll post on Reddit. 

Read: Bitcoin Scammer Turns Out To Be Nigerian Boy Struggling To Pay Fees, Gets $200 Reward

Advertisement

Bitcoin is a cryptocurrency, which is also known as a digital currency and is traded entirely on the web. Bitcoin was invented in 2009 by an unknown person or persons and has no single administration to control it, unlike physical currencies, which are controlled by central banks all over the world. Bitcoin has become hugely popular among the masses in the last couple of years, before which it was only known by a select group of people.  

Read: Elon Musk's Tesla Buys Bitcoin Worth $1.5 Billion, Know All About The Cryptocurrency
 

Advertisement

13:10 IST, February 10th 2021