On February 8, major cryptocurrency exchanges reported a service outage following news that Tesla had invested $ 1.5 billion in Bitcoin (BTC).
As Cointelegraph previously reported, news of Tesla’s huge investment emerged following the discovery of a file with the US Securities and Exchange Commission. This resulted in a sharp jump in the price of bitcoin to $ 3000 in a matter of minutes, and eventually set a new full-time rate of $ 44,850.
The problems have been reported on a number of stock exchanges, including Binance, whose CEO CZ tweeted that traffic flow caused temporary delays during automatic expansion, and that Tesla CEO Elon Musk was to blame.
Several Kraken users took to Twitter to complain that the website is also down, although there is no official confirmation from the exchange itself.
The reported crashes are just the latest in a seemingly endless cycle of problems that appear on major stock exchanges as traffic increases, causing some in the cryptocurrency community to shout “wrong”.
Despite assurances from stock exchanges that previous problems have been resolved, the platforms continue to fail regularly during periods of high congestion, such as price increases; The time when most investors want their services to be as stable as possible.
In addition to news of Tesla’s $ 1.5 billion investment in bitcoin, a report sent to the SEC suggests that Tesla will begin accepting bitcoin as payment for its cars. Since the company can now have reserves in bitcoins, you do not have to liquidate tokens obtained in this way immediately.