Tesla’s bitcoin value dives; Elon Musk signals hold with ‘diamond hands’ tweet

The market value of Tesla Inc’s bitcoin holdings have fallen by half to $1.26 billion, close to the electric car maker’s purchase cost, as the cryptocurrency’s value plunged following a crackdown by the Chinese government.

Shares of Tesla Inc were 3% lower on Wednesday afternoon, down more than broader U.S. market indices.

Chief Executive Elon Musk signaled that the company still is not selling, tweeting symbols for diamond hands to his 55.3 million followers.

“Diamond Hands” is a symbol used frequently on Reddit signaling the intention to stubbornly hold on to a stock or other asset.

Musk credited Tesla’s “Master of Coin,” referring to the title he has given Chief Financial Officer Zachary Kirkhorn.