Elon Musk has too much influence in the cryptocurrency world

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Apart from keeping a close eye on the charts, many enthusiasts often hold an eye on Musk’s Twitter account. His tweets, for example, have had a significant impact on prices in the past. just tweeted an optimistic message about in general.

has lately been in the headlines due to his Tesla’s decision to no longer consider as payment. He is worried about the effect on the environment, for example. Musk, on the other hand, has said consistently that he wants to support in general.

Someone asked on Twitter today what he feels about the fact that he has had a lot of negative feedback. Musk’s answer reveals that he thinks this debate is diverting attention away from the actual war. The actual fight is taking place elsewhere:

Following the tweet, the market seemed to have gained some positive traction. The price of Bitcoin, for example, increased by a few percent. It’s impossible to say if this is due solely to Musk’s optimistic tweet.

is too influential

Many people are critical of Musk’s effect on markets, both optimistic and negative. He is, for example, responsible for the recent decline in the price. Owing to environmental issues, can no longer support bitcoin. Is there, though, more to this decision?

In early February, revealed that it would welcome as payment. Around the same time, the electric vehicle manufacturer announced the purchase of $ 1.5 billion in Bitcoins. As a result, the currency’s rate was sent to new levels.

made a $100 million profit last month by selling 10% of its Bitcoins. stressed last week that the rest agreed to keep on the balance sheet for the time being.

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