VietnamExpress-May 24

Elon Musk’s recent tweets have partly contributed to sending Bitcoin and other cryptocurrencies tumbling, and Vietnamese investors into losses and diminishing their hope in the future of digital currencies. Thien Tuan from the northern town of Mong Cai has seen his VND30 million ($1,300) investment in several cryptocurrencies depreciate by nearly 40 percent in the last few days.The 28-year-old had entered the crypto market in early April with no prior investment experience. Half of his savings is now in XRP, which has fallen 36 percent since mid-April, and Dogecoin, which has lost half its value in two weeks. On several Facebook groups of which he is a member, hundreds of people are expressing similar concerns about Bitcoin, Dogecoin and other cryptocurrencies after their prices plunged due to the remarks made by Musk and other reasons.

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