FUD is dead, Elon Musk again speaks out “stroking” cryptocurrency

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2021-05-23 21:18:06

After witnessing the crypto market in the red due to a series of bad news, Elon Musk took to Twitter to “pause” cryptocurrencies.

The Tesla CEO, who has been involved in the recent crypto market turmoil with a series of decisions and “pump & dump” price statements, responded to a Twitter user when asked what he thought. What about “those guys taking their anger out on you for crypto. “

In response, Musk appeared to take a long-term view of the situation, saying that the main challenge for cryptocurrencies is not short-term price action, but rather the ongoing war against cryptocurrencies, that:

“The real battle is between fiat and crypto. On balance, I favor the latter.”

The CEO noted that he is “in favor” of crypto in that battle, but only in moderation, noting that the decision is “balanced.”

Musk’s tweets about cryptocurrencies have been in the spotlight since the market downturn – a devastating “crash” that wiped out more than 50% of the market cap and raised fears that the uptrend could be broken. of the market may end.

Musk – has undeniable influence with his statements on Dogecoin in particular and the crypto market in general, although larger coins by market capitalization have proven to be resilient. higher – has been giving mixed signals in its support lately and “closed” by declaring that cryptocurrencies must take a more environmentally friendly approach.

“To be clear, I completely believe in the potential of cryptocurrencies, I just can’t support such massive energy consumption, especially coal use (referring to Bitcoin mining pools that operate on coal-fired power plants in China).

Market leading news sites, including CHK, have had to keep a close eye on the billionaire’s flying and “rainy morning” comments – amid a recent survey showing half of Australians believe Musk is the inventor of Bitcoin.

However, the crypto community also seems to have grown tired of Elon Musk’s impulsive statements, when in a debate about expanding the Dogecoin network, because of this “uninformed” argument, supporters Bitcoin claims that Elon Musk’s knowledge of the scale of cryptocurrencies has only reached the stage of 2015, but he has called himself a “savior” who has come to bring cryptocurrencies to widespread use. . Many people also think that Elon Musk is trying to turn Dogecoin into a currency of his own control.

In a move to retaliate, billionaire Elon Musk commented in agreement on a post that hypothesized that Tesla sold all of its BTC.

Of course, CHK also does not want an individual to have an impact on a global and potential market like cryptocurrency, that’s why we say: In the crypto market, trust anyone, not someone. believe Elon Musk!

Synthetic CHK

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