Post
Topic
Board Economics
Re: 🔴 Breaking News - Elon Musk is going to part with all his Bitcoin BTC
by
c_atlas
on 17/05/2021, 00:36:22 UTC
Yes, it will probably bring the price down, which is great if you have the opportunity to buy more. I think it's quite embarrassing for elon to behave like this. I don't doubt it's annoying to deal with the btc twitter hive-mind in all its glory, but he should have recognized that he brought it on himself.

At the end of the day, bitcoin doesn't care about elon, and elon probably doesn't care all too much about bitcoin. We all know he had very little to do with PayPal's success, so I don't see why so many people value his financial opinions so highly. IMO, if he understood the technology, he wouldn't be claiming that bitcoin is highly centralized, and that it's reviving the coal industry. If he really knew the incentives, he would be promoting bitcoin mining as an alternative to Tesla powerwalls/battery packs for clean energy sources that have surplus energy, this would be a win-win for him since either his profits increase or the security of his store-of-value BTC increases.

disclaimer, I bought the dip