Elon Musk’s Top Tweets About Bitcoin And Other Cryptocurrencies
Elon Musk, a technology entrepreneur, and former US President Donald Trump both engage in the practice of sending out sporadic tweets. Of course, this was before Trump’s Twitter suspension. Elon Musk is currently at the top of the list for tweeting odd and entertaining things. But there is no denying that his tweets significantly impact society. Elon Musk, in particular, is quite outspoken about cryptocurrencies. The wealthiest man in the world has long been a supporter of Bitcoin, but his new learning about climate change and Bitcoin’s role in the worsening crisis has caused him to reconsider. On the other hand, Elon Musk also keeps Dogecoin’s ball rolling on the court. Analytics Insight now listed his most influential tweets about Bitcoin and other cryptocurrencies that affected the market.
Elon Musk’s top tweets about Bitcoin and other cryptocurrencies
Tesla will not accept Bitcoin payments.
Elon Musk’s tweet on Tesla’s decision to stop accepting Bitcoin payments owing to environmental concerns is the most recent incident to cause discussion in the bitcoin community. The specialists for cryptocurrencies were greatly surprised by this. Elon Musk has been a longtime supporter of Bitcoin and is a strong advocate for cryptocurrencies. His abrupt u-turn, though, hurt the price of Bitcoin. Following the post, Bitcoin fell from US$54,819 to US$45,700, its lowest level since March 1. The decline is worth 17%. In 2021, Tesla revealed that it had purchased US$1.5 billion worth of Bitcoin and would accept it for automobile payment. The automaker’s choice significantly aided Bitcoin’s skyrocketing price.
Elon Musk says Tesla will not accept bitcoin payments over environmental concernshttps://t.co/qJWNZF7BPx
— UK Investor Magazine (@UKInvestorMAG) May 13, 2021
Musk also published a graph on “Bitcoin electricity use” a few hours after the initial tweet, criticizing the “insane” amount of energy required to manufacture Bitcoin. However, detractors refer to this action as a green promotion.
To decide if Tesla will accept Doge, Elon Musk conducts a poll.
This cryptocurrency was inspired by memes and started as a 2013 social media joke. A few days before rejecting Bitcoin, Elon Musk polled his Twitter followers on whether Tesla should accept payments in Dogecoin. He raised the stakes of the decision-making process by running a poll on the microblogging platform. In addition, Musk’s most recent tweet was sent out just a few days after SpaceX, his commercial rocket company, announced that it would take Dogecoin as payment.
Tesla offered Bitcoin to demonstrate its viability as a substitute for cash.
Elon Musk is highly active when it comes to responding to tweets that mention him, in addition to occasionally posting his own. Elon Musk responded that the Twitter user had misunderstood his query about whether he buys Bitcoin, drives up its price, and then sells it for a profit. Musk insisted that none of his Bitcoin had been sold. Tesla, however, effectively sold 10% of its investment to demonstrate Bitcoin’s liquidity as an alternative to storing it on the balance sheet.
ElonGate, Musk’s joke that was a cryptocurrency
The Bitcoin market is as insane as it gets. A query that, following Elon Musk’s tweet, was answered succinctly but forcefully. The IT entrepreneur’s tweet had nothing to do with cryptocurrencies. In a completely unrelated jest, he wrote on the microblogging site, “If there’s ever a controversy concerning me, please call it Elongate.” The Watergate affair erupted in the summer of 1972 and was the subject of Musk’s comment. Three weeks later, a new cryptocurrency now goes by that name. ElonGate has already contributed more than $1 million to charity in the first month. The brand-new cryptocurrency pledges to donate 80% of its profits to good causes.
The Dogefather made a claim that sent the price of Dogecoin soaring.
Nothing, simply Dogecoin’s price increased after Elon Musk tweeted that he would discuss it on Saturday Night Live (SNL). Following the tweet, Dogecoin’s price increased by more than 20% to US$0.33. However, analysts cautioned that the cryptocurrency carries a wider variety of risks and that Dogecoin’s price fluctuation is severe.