I like the ambitions that Elon Musk has and the charisma that he carries but what's happening right now is very bad. One man has a huge influence on everything, one word of Elon Musk can destroy or rise the things like Phoenix. Tesla invested in Bitcoins and price went from 38K up to 44K in just some hours. Yeah, if Paypal, Visa or any other company bought bitcoin that would happen too but what happens around Musk is very different.
Elon Musk says that Signal is better and everyone moves on that.
Elon Musk says that Doge is a good coin and everyone invest.
Elon Musk says that Bitcoin is a good thing and it rises.
Elon Musk's company invests in bitcoin and it rises.
What if Elon Musk said that he changed his mind and today bitcoin is bad and Ripple is better? I'm saying that just for example. People can't think themselves, they think: If Elon Musk says that something is good, then it's good.
I don't think it's a healthy behaviour from people.
I personally don't like this announcement because it just makes the bitcoin price pump up to 50k$ and that just means we see the effect of these companies getting into cryptocurrency. I mean who doesn't like buying bitcoin at a much cheaper price point in the market and we can no longer no that around 30k$ probably resistance in the would-be around 40k$. This is only Tesla and Elon Musk, right? Imagine if Apple, google announce their interest in cryptocurrency for the sure market price will skyrocket to the moon so I just buy buy buy for now.