Elon's Impact On Bitcoin, Or Crypto's Impact On His Wealth?

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The crypto world is exceptionally buzzing with Elon Musk's retraction on his stances concerning bitcoin and why it seems Tesla will not be accepting it going forward. Twitter particularly is agog and of course everyone seem to be tying it with the dips we have particularly seen lately and who wouldn't want to?

Truth is, Elon musk is a businessman evening before he started shilling BTC and by all means I wouldn't really say his shilling and purchase is the reason why bitcoin did those massive gains in like 6 months. We have a lot of people who aren't pro-crypto but are die hard fiat fans and a lot of these people might be shareholders in Tesla, inasmuch as we don't really know the truth behind Musk's decisions, I still feel he's getting too much praise or too much slate as well.

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First off, the real reasons why I think Elon was buying BTC in the first place is because it's the bull season, the money was there, the thrill of having your investment multiply and sometimes these motivation are Only temporary.

Now I'm not saying Elon's impact didn't push the BTC prices all I'm saying is, BTC has given Elon more money than his impact has brought to BTC, like I said earlier we're already in the bull season and even if Elon didn't buy all that BTC, it'll be bought up by some other people, the push in the prices will Only he slower and not spontaneous like it's been lately. So first of all people forget Elon isn't Vitalik Buterin, Elon is all about spaceships and all that crap that comes with it.

He's a billionaire by any miles, this doesn't mean he's a die hard crypto fan, he's a crypto enthusiast, one who's drawn to the outrageous value his wealth will skyrocket by just by putting it into crypto for a long time he was ahead of Jeff Bezoz in terms of wealth as a result of bitcoin.

He's not one that seem to want to build with crypto, if not this buzz about how he loves bitcoin will be sufficing during the bear market a longer time before. It's straight up business for Elon, let's take sentiments aside. This was also the same for doge but then I think Elon is trying to separate his dealings with bitcoin away from Tesla, he's like trying to excommunicate Bitcoin with Tesla and the PR stunt that he's rather thinking of another crypto for Tesla is all lies.

While I don't think Elon will completely sell all his btc or so I think he's trying to make BTC more of his personal dealings, call it passion or a thing. He's got a soft spot for Crypto entirely because of how futuristic the technology is and seems but then he's not really educated on how crypto works and should he had been, more people would make better financial decisions, had basic understanding of these tokenomics based on what they've seen from Elon's tweets.

This brings me to how crypto in general needs celebrities who understands crypto in totality. Inasmuch as people might argue that crypto doesn't, this isn't true. Adoption sometimes should be based on understanding of the risks and the challenges and this would help prospective Crypto adopters to understand better.

By all means, I don't think people should be hating on him (Elon) because of his tweets and decisions lately, I think he's trying to create a standpoint. A kind of pause or *re-evaluation as a result of Tesla. People like him will only propel adoption to a sizeable extent which can only be temporary. It's a sort of a bubble that the burst looks inevitable.

Needless to say, nerves and feelings are boiling as a result of the dips in prices, but it's only a shade that will disappear with time. Nevertheless let's not be quick to deride him, I still feel there are things he isn't saying. His tweets are complete innuendos and they're not really hitting the bull's eye. But we ride or die and many "Elons* will come and go and crypto will remain.

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fair points, he is kind of a gambler but what if this is king of a pull-push dance and he only tries to use the awareness to sell his decarbonization plan for Bitcoin? He and Jack Dorsey tweeted recently about such possibilities. Making Bitcoin "green" would raise demand for his batteries and other stuff. Putting a bitcoin-miner in each of his tesla homes and so on.

PS. Doge is basically Bitcoin (code-wise) and not corrupted by banks. So he can make it his ecosystem Token without it legally being his currency (like applepay is for apple)

Overtime I think their influence is inorganic and wouldn't really be the reasons why crypto will gain adoption.

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Elon Musk is making me want to get out of Crypto after iv been in it since 2012. Im wanting to just go into privacy coins and disappear away from it all. Its gone insane, its gotten completely ridiculous and the valuations are just stupid and not realistic. People like Elon musk getting into crypto late as hell and having such an influence is just boiling my blood. I dont know whats worse him, or people that listen to him. Now all i'm waiting for is the regulators and government to come in and just destroy this thing for good. Im trying to get ahead of the curve by saying i'm done with this shit. It's over in my eyes.

I think I wouldn't blame the people listening to him because he's already wealthy and most people would want to take even crypto advises from him. But then his influence on the game isn't really good either, I understand your frustration at how it's basically turned out so far and I believe his influence isn't so good by any means

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Listening to Elon Musk about crypto currency??, a guy who knows pretty much nothing about it, cant make up his mind about it, wasnt smart enough to invest in it until 2021, despite having connections with smart wealthy people. All this BS about mining and carbon footprint on Bitcoin, hes been told by someone higher up than him something about what is coming for Bitcoin. Ie the Government and regulation, we're about 6 months away from a major cyber pandemic, and global logistics disruption, the seeds are clearly being sown. He needed an excuse to distance himself from it. Taking influence from Elon Musk on crypto you might as well go ask an 8 year old child what to buy after showing them a paper with top 100 coins.

Elon Musk is just a person. I think Elon is looking at BTC as a store of value that he could change into money when he needs. But I feel he probably has more insights about how the technology in block chain is going to play in the future of crypto.

I don't know why he specifically choose DOGE but people should be doing more research and plan their trades rather than just following someone else.

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Exactly, I believe people should make their research a whole lot because it feels good to buy into what influential people are shilling until it doesn't feel good anymore.

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There's a lot going on behind the scenes we no nothing about. I actually read yesterday Elon has been working with Doge devs since 2019, that brings to light why he keeps shilling Doge.

I will say the same for Bitcoin with regards to his tweet, Elon is smart, he didn't just all of a sudden tweet about environmental concerns for Bitcoin. There's something behind it and we better start thinking twice before reacting to his tweets.

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Hahaha but a whole lot of people have FUDed lately as a result of his tweet, that's how influential it gets, the mind games and everything. But then it's bringing the feeling that the bull run is coming to an end. Hopefully not.

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Nice post. But what if all he is trying to do or say isn't the real fact bcos it only what they say we sometimes know but they still go back to do things behind us

First off, the real reasons why I think Elon was buying BTC in the first place is because it's the bull season, the money was there

He and his company has already making Billions of profit from selling its holding weeks earlier. but at least its a dip for btc recently, a good chance to buy at lower price, or maybe it will start a winter in crypto again, only time will tell. Elon will just be as usual, making tweet after tweet which then the majority of people bet into

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