Elon Musk - Hero or Villain for Crypto-investors - THE MONTHLY EPISODE

Elon Musk, CEO of Tesla and SpaceX, the notorious infamous billionaire has been frowned upon by investors in the cryptocurrency market. He is said to manipulate the market with investor sentiments by his tweets. He is an excellent brainiac and a strong proponent of cryptocurrencies. While, majority believe his tweets are reckless and do not care for the losses of the investors, there is another theory that makes it possible that he actually is saving investors from unbearable losses by correcting the markets in time, in order to save a free fall. Consider it, he is well established all over the world, he tweets the fact that he will not accept Bitcoin for payment of his cars the same day China bans its financial institutions to offer crypto services. It is speculated that if Elon Musk had not tweeted about the non acceptance of Bitcoin forms vehicles, the crash in the crytomarket would have been much worse and revival would have been far more difficult. By tweeting in time, he became the anchor that controls the market rather than giving the power to China. Elon Musk, is indeed the hidden angel for crypto investors.

Musk’s tweets and support took Bitcoin to $64,800, its all time high. It is speculated Elon Musk made more profit selling Bitcoin than he made selling his cars.

February 19

Elon Musk : To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.

However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.

Bitcoin is almost as bs as fiat money. The key word is “almost”.

March 13

BTC (Bitcoin) is an anagram of

TBC(The Boring Company)

What a coincidence!

March 24

You can now buy a Tesla with Bitcoin

April 27

No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.

May 13

Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

May 16

Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies.

A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?

May 17

To clarify speculation, Tesla has not sold any Bitcoin

May 19

Tesla has 💎🙌

May 25

Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.

June 3

Bitcoin 💔

Elon Musk is the only one looking after the Cryptocurrency market and without him, the bubble would burst. He is willing to take the backlash from the investors as long as he saves the market. He is ready to take the blame in order to actually save them.