Musk expresses concern over the rise in silver prices

2025-12-28 by admin

Deep Tide TechFlow news, December 28, according to Jinshi data reports, Tesla CEO Elon Musk expressed concern over the rise in silver prices. He posted on social media platform “X” saying: “This is not good. Silver is essential in many industrial production processes.”

His remarks were in response to a post describing silver prices as “soaring due to a severe global supply shortage.” Recently, silver prices have risen significantly, surging more than 17% over the past week.

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .