The price of Bitcoin has just had a slight drop after billionaire Elon Musk posted a meaningful tweet on his Twitter page. With the hashtag #Bitcoin and a broken heart icon, and a photo of an angry couple that led to a breakup, it seems like Elon Musk is implying that the love for Bitcoin is over.
Worth mentioning, Elon Musk’s repeated criticism of Bitcoin (BTC) itself seems to cost the CEO of Tesla – at least when we look at the netizens’ reaction to Elon Musk on Twitter. Twitter.
According to data shared exclusively with Yahoo Finance from Awario – a company specializing in monitoring the customer’s emotional index of brands on social networks, Twitter users’ negative reactions in May 2021 to their posts Elon Musk has hit an all-time high. This is also the time when the crypto market plummeted, after Elon Musk repeatedly criticized Bitcoin and announced that Tesla would no longer accept it as a form of payment.
Negative comments about Elon Musk increased rapidly in May 2021, coinciding with the cryptocurrency market going down
In January, Twitter users’ tweets for and against Elon Musk were equal in number. However, things have changed since May. Emotionally neutral tweets are still the largest percentage at around 66%, followed by negative tweets at 19.2% and positive tweets. only 14.9%.
More specifically, the number of negative tweets increased rapidly after May 12, the time when Elon Musk posted a forum announcing that Tesla no longer accepts Bitcoin for purchases. The Bitcoin price dropped 12% following that announcement and has lost about 35% of its value in the weeks since.
Interestingly enough, on the other hand, the positive tweets defending Musk also increased after this announcement, although to a lesser extent. For example, some people claim to continue to support Musk after Tesla announced that it has not sold the Bitcoin it owns.
“Elon Musk is helping our entire crypto industry grow and gain recognition,” said one crypto investor. “It’s not just Dogecoin that benefits.”
Of course, Dogecoin was the main focus of Musk’s praise on Twitter. The CEO of Tesla called it “the people’s cryptocurrency” and repeatedly inflated the coin to an all-time high price in May. Even so, Elon Musk still faced many negative comments. from the community of Dogecoin investors, right from the moment this cryptocurrency dropped by 25% in value after this rich billionaire appeared on the SNL program.
The price of Bitcoin has just had a slight drop after billionaire Elon Musk posted a meaningful tweet on his Twitter page
It must also be added that the reaction of netizens on Twitter is actually not so important to Musk. Despite being criticized by netizens, the number of followers of this tech billionaire on Twitter still increased by more than 3 million in May, helping Elon Musk reach a total of 56 million followers. Elon Musk is also currently the CEO with the most followed account on Twitter, outperforming the CEOs of other companies.
However, Elon Musk may really feel concerned, if Tesla gradually becomes the object of “hate spread” by the actions of this billionaire. This is also something that some Tesla investors worry about.
“I think this (crypto market) is a very dangerous area for Elon to enter, especially since he has caused losses to many people. This can lead to anti-public opinion. against him, and ultimately against Tesla,” said Ross Gerber, CEO of Gerber Kawasaki and a longtime Tesla investor.
Refer to Yahoo Finance
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