Elon Musk strikes again in crypto, as time goes by, it seems to get harder to take him seriously. He seems to be having difficulty grasping his comments, and several digital analysts and traders are thinking the same thing:
Make up your Mind!
Elon Musk Doesn’t Care for BTC all of a Sudden!
One moment, he says that crypto is the greatest invention known to man. And then suddenly, he says that it all smells fishy and that people should probably be avoiding it like the plague.
What’s on your mind Musk? Why the sudden switch of gears?
Many traders are not sure of what to get from his crypto-related tweets, where he says that bitcoin is “as bs as fiat money.” Now it is no longer a secret that fiat currency has been doing poorly by this time. Several governments have been overprinting funds as a means of shelling out stimulus checks to normal citizens, and thus the fiat currencies have been subject to inflation and other grim economic circumstances.
But it is not a reason to take one’s anger out on all the financial options out there. Keep in mind that Musk must have a reason for hating bitcoin all of a sudden. Maybe he has a purpose for these angry, anti-bitcoin tweets. Unfortunately, he doesn’t bother to elaborate on it to his followers. Aside from the one post about bitcoin as “bs,” there is no explanation and no further information to have.
Similarly, Musk continued to express positivity towards Dogecoin, an alternative digital asset that began as a joke and has a cute dog as its mascot. Musk tweeted the message, “One word: Doge” in a follow-up post to his authentic bitcoin comment that eventually caused the currency to gather gains of around 20% in a matter of hours.
“One word: Doge”
The Doge Agenda
It looks like Musk shared a sort of personal connection with this asset knowing that he is always there to push it into broader territory. It joked that Elon Musk served as the CEO of Dogecoin previously, although nothing has been established between him and the currency’s present executives. Simply put, he’s got a thing for Doge and he didn’t care who knows what it is for a time.
Bitcoin appears to be the object of Musk’s negative affection. Without an explanation, on the other hand, the is no telling why Musk is switching his tune, specifically considering some tweets that occurred between him and Michael Saylor – CEO of MicroStrategy – in which he asked about engaging in big bitcoin transactions and changing several of his company’s funds into the digital asset.
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