Elon Musk: An Influencer or a Troll? Why Tesla CEO Seems To Be On A Mission To Destroy Bitcoins

Just a few months ago if you would have asked who was the biggest influencer inspiring the crypto-community, I’m sure the majority would have voted Elon Musk to the top. But that fame was short-lived as Elon’s fall from grace began from the moment he backtracked on his decision to accept Bitcoins in payment for Tesla’s Electric cars citing environmental concerns.

As if that wasn’t enough, Mr. Musk started to tweet more frequently knowing well that every inch of space he used to talk about Bitcoins on his Twitter handle made a huge impact on the market. With his recent post, Mr. Musk has once again shattered the hopes of a Bitcoin rebound in the short term.

Sharing a picture of a couple discussing a breakup with #Bitcoin, Elon took trolling the market to a whole new level. Not surprising why Bobby Ong, co-founder of crypto data aggregator and analytics website CoinGecko also appropriated Mr Musk’s behaviour as that of a troll. He said that Tesla Ceo is now trolling the crypto community.

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Market volatility is not hurting, but market manipulation certainly puts individual retail investors and traders at maximum risk. Unlike their institutional counterparts, small to mid-cap investors don’t have an option to play with even bare minimum margins.

Elon Musk’s “environmental concerns” with Bitcoin and crypto mining now seem to be a farce and the entire episode smells of ulterior motives. However, Bitcoins have stood the test of time. Cryptocurrencies are not just a ‘product’ that will die with negative publicity, it is an idea that has been tried and tested and has stood its ground despite being continually attacked by top conventional finance giants. Elon Musk can manipulate the market but he cannot control the future of the decentralized tokens.

Originally published at https://eliteclubsignals.com on June 4, 2021.