Following the announcement on February 8 that Tesla invested $ 1.5 billion in Bitcoin (BTC), there was a service interruption in major cryptocurrency exchanges.
Tesla has invested $ 1.5 billion in Bitcoin, according to the application filed with the US Securities and Exchange Commission. The BTC price jumped to $ 3,000 within minutes after the news, and continued to rise today, exceeding $ 48,000.
After that, problems were reported in many exchanges, including Binance. Binance CEO CZ said the increased traffic caused temporary delays, and Tesla CEO Elon Musk was to blame.
Massive incoming traffic. Some lags observed in some regions. Auto scaling. Should catch up soon. All because of Elon.
– CZ Binance (@cz_binance) February 8, 2021
Kraken users also complained on Twitter that the exchange was down. The stock market did not make an official statement.
What a surprise! Theres a spike in volume and @crazyfx is down! Thank god I barely use you anymore, for new comes to crypto world, avoid them at all costs!
— Crypto Carl (@CryptoCarl_) February 8, 2021
These outages experienced by major stock markets when traffic increases represent a problem that has not been resolved for a long time.
Even though the stock markets claim that past problems have been resolved, they continue to experience cuts in sudden price changes, where investors expect the most stable service.