The manic price swings underscore Bitcoin's evolving—some might say immature —market, and raise questions about Musk's seriousness as well as his understanding of market dynamics.
The Tesla CEO's tweet followed speculation that his company was planning on dumping holdings of the cryptocurrency.
Tesla says in owner's manuals and on its website that both Autopilot and "Full Self-Driving" are not fully autonomous and that drivers must pay attention and be ready to intervene at any time.
The scam, involving a fake BBC news article, is not the only one to have cheated people out of money recently.
The cryptocurrency token was up Friday morning following a rough week, during which its price had plummeted.
Tesla CEO Elon Musk said Thursday that he was working with Dogecoin developers "to improve system transaction efficiency," prompting the price of the cryptocurrency to quickly spike.
On Thursday, Bitcoin fell 28.59% below its record high after Elon Musk tweeted Tesla would no longer accept it to pay for its products, based on environmental concerns.
The cryptocurrency started as a joke in 2013, but has gained mainstream attention in recent weeks, and has continued to gradually rise in value.
"Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy," said Musk in a statement.
The value of the cryptocurrency and Tesla shares fell after Elon Musk said his company would no longer accept bitcoins for vehicle purchases.
Critics of the digital currency say the energy-intensive process used to "mine" coins is bad for the environment.
Param Sharma, 25, was charged with reckless driving and disobeying a peace officer, according to a statement from the California Highway Patrol. Sharma told KTVU that he does not believe it's dangerous to ride in the backseat of a Tesla set to Autopilot.
The 25-year-old has posted a number of videos on Instagram of himself riding in the backseat of the Tesla. One is captioned: "U blue collar peasants can't understand my life,"
Dogecoin's price surged after Musk hinted that the cryptocurrency could be used to purchase Teslas in the future.
The National Transportation Safety Board said it tested another Tesla on the same road during its investigation, and the Autopilot driver-assist system could not be fully used. Investigators were unable to access the system's automated steering system.
The California Highway Patrol is looking for a man photographed riding in the backseat of a driverless Tesla,
I'm rooting for Musk to elevate the conversation and send a positive message for those who need it most in the autism community
Musk revealed that he had the syndrome while guest hosting an episode of Saturday Night Live.
SpaceX CEO Elon Musk announced the news one day after Dogecoin plummeted in price during his "SNL" appearance
The meme-inspired cryptocurrency's ardent supporters exclaimed "To the moooon!" amid Sunday's dramatic price rebound.
The 17-year-old Australian singer performed a remix of his song "Without You" with Miley Cyrus on Saturday Night Live.
Maye Musk, 73, has worked as a model since the age of 15, and is also a dietician and nutritionist with two master's degrees.
"We're currently experiencing issues with crypto trading. We're working to resolve this as soon as possible," Robinhood stated.
At around 12:30 a.m. ET, amid Musk's 'SNL' performance, the price of dogecoin fell to 0.5115—a 24 percent drop in value.
"It's pronounced: Cat running across the keyboard," Musk said of his son's name.
Musk ridiculed his tweets, his son's name and welcomed his mother to the stage during his opening monologue on 'SNL.'
The Tesla and SpaceX billionaire will host Saturday Night Live on May 8, with Miley Cyrus as the musical guest.
Elon Musk will take to the "SNL" stage on May 8. But it is not the first time the Tesla and SpaceX boss has dabbled in jokes…