Elon Musk has been making a lot of headlines these days following his Bitcoin criticism that led to the king coin’s price fall not too not ago.
The other day, we revealed that Elon Musk dropped a tweet about Bitcoin that has the whole crypto Twitter unleashed.
Bitcoin was trading at around $57k the other day, and then suddenly, the king coin saw a drop in price of about 10% in the past 24 hours following Elon Musk’s tweet.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Crypto Twitter went ballistic following this tweet.
PlanB posted the following tweet:
So Elon never really understood #bitcoin, never understood proof-of-work. His Doge pump was a warning sign. His turning to other “crypto” is confirmation. No more Tesla for me. https://t.co/wPzE3eEF68
— PlanB (@100trillionUSD) May 12, 2021
Musk keeps pumping DOGE
Musk continues to pump DOGE these days. Just check out the tweet that he recently dropped that had the coin surge in price right away.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
Someone commented “..electricity isn’t used for transaction processing. It’s used to secure the network. Doge is PoW meaning it faces the same basic dynamics as Bitcoin. It uses less electricity now because it’s less secure.”
Also, check out Trading View’s post:
The market cap of Dogecoin spiked $10 billion after this tweet. pic.twitter.com/cqMA1irxSm
— TradingView (@tradingview) May 13, 2021
A follower said: ” I like the dogecoin community but I hate the fact Elon Musk has the sole power of either bringing its value up or down with a fucking tweet. This is what I don’t like about investing in dogecoin.”
One other person said: “So you stop tesla accepting bitcoin due to the ‘environmental impact’ even though 76% of people mining bitcoin use renewable energy then you promote dogecoin as much as you can?! This sounds like market manipulation to me! Unacceptable behaviour, Elon.”