Elon Musk and Bitcoin: A love-hate relationship?
Convincing your father that bitcoin is a golden investment is a tough conversation as it is, but getting Elon Musk to decide his stance on it is even tougher. I’ve never seen such an individual with such power to move markets be on the fence about the hottest coin out there. What’s more volatile: Elon Musk or Bitcoin?
The Bitcoin community is getting a bit frus trated over the already slumped momentum of BTC, and Elon’s tweets aren’t helping out very much at this point. On July 8, Max Keiser and Stacy Herbert hosted an Elon Musk-inspired show in Austin, Texas. Aptly named “F*ck Elon,” the event, which included a large number of Bitcoin (BTC) maximalists, was surely a rowdy affair. Where did this negative uproar come from you ask?
In early May of this year after a long-standing of supporting bitcoin, Musk announces that Tesla was no longer accepting BTC as a method of payment citing environmental concerns that don’t align with Tesla’s base sustainability principles. BTC plummeted immediately after his tweet, making his popularity slowly fade when the masses realized his power in manipulating markets.
