FACT CHECK: Viral Posts Share Fake Headlines About New Tesla Platform ‘Bitcode Prime’

Hannah Hudnall | Fact Check Reporter

Several posts shared on Facebook allegedly show news headlines announcing Tesla’s launch of a new cryptocurrency platform called “Bitcode Prime.”


Verdict: False

The images are all digitally altered. There is no evidence that Tesla or CEO Elon Musk has launched a cryptocurrency platform.

Fact Check:

Economists are warning the U.S. is likely to experience a recession in 2023, caused by a cooling off of the job market and high inflation, according to the Financial Times. Fears of a recession and increased inflation have caused cryptocurrency markets to crash, with Bitcoin now trading below $27,000, MarketWatch reported.

A series of images shared on Facebook claim Tesla recently announced a new cyrptocurrency platform called “Bitcode Prime.” One such image shows what appears to be a BBC News article titled, “SPECIAL REPORT: Tesla launches its newest platform Bitcode Prime- aims to help families become wealthier.” Other posts appear to show the same story being shared by the NZ Herald and The Mirror.

“Due to the financial crisis around the world, Tesla has launched a new project promising to help families become wealthier,” the sub-headline of the article reads. (RELATED: Did Forbes Publish This Article About China’s New Cryptocurrency?)

The articles are digitally edited. The articles do not appear on the websites of BBC News, the NZ Herald or The Mirror, nor on their respective Twitter pages or other social media accounts.

“I can confirm this is not a real BBC headline,” a BBC spokesperson told Check Your Fact in an emailed statement. A spokesperson for The Mirror likewise confirmed the outlet did not publish such a headline.

Neither Tesla nor Musk has made any mention of the platform on their official Twitter accounts. Likewise, there are no credible news reports suggesting Musk made the comments purported in the article. Bitcode Prime, which is an online trading platform that claims to use artificial intelligence to predict market patterns, does not offer any information on its owners or creators on its website.

Check Your Fact has reached out to the NZ Herald for comment and will update this piece if a response is given.

UPDATED: This article has been updated with the response from The Mirror.

Hannah Hudnall

Fact Check Reporter

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