Elon Musk drops a Bitcoin bomb on the cryptocurrency industry

Elon Musk drops a Bitcoin bomb on the cryptocurrency industry

Elon Musk is back at it again sending the entire cryptocurrency community is a frenzy as he went on to drop a sudden Bitcoin bomb on the cryptocurrency community.

Earlier on Friday morning, the notorious chief executive of both Tesla and SpaceX, posted a Tweet, “Bitcoin is ‘not’ my safe word”. If you are not familiar with the topic or why the term ‘safeword’ stated by Elon Musk has got the cryptocurrency community on their toes do look into it.

In the cryptocurrency community, the tweet posted by Musk has gone viral with almost 50,000 likes and continuing.
Given that the tweet has come directly from the left-field has left the entire cryptocurrency community in a frenzy.

Notably, Bitcoin 2020, the Twitter account for the upcoming Bitcoin event commented on a thinking emoji on Musk’s random tweet, to which the former co-founder of PayPal replied back with a winky face emoji.

Many bitcoin experts saw this Tweet as an opportunity to promote the leading cryptocurrency to Musk’s 30m followers.

The Moon, one of the leading cryptocurrency analysts commented on his thesis on what makes BTC valuable on Musk’s Tweet.

Another pioneer in the Bitcoin community, Peter McCormack, a Bitcoin industry podcaster, used this opportunity to lure Elon Musk into joining his podcast.

According to Peter McCormack, “The price of Bitcoin hasn’t reacted to this tweet. If Musk tweeted

“buy BTC,” maybe that would’ve been a different story, but he seemingly can’t do that due to his previous tweets.”

It is quite a known fact amongst the bitcoin and cryptocurrency community that the billionaire tech entrepreneur is a big admirer of the way cryptocurrency works.

Musk has previously also publicly supported Dodgecoin and has also joked about being the founder of the cryptocurrency.

Also, this is not the first time for Musk to randomly tweet something completely out of the blue in regards to cryptocurrency, earlier in the previous year, Elon Musk Tweeted ‘Ethereum’ which left many scratching their heads over what it actually meant.

However, Musk has termed Bitcoin’s Proof of Work (PoW) consensus mechanism is an energy-intensive process, but still feels that the overall concept of Bitcoin is ‘quite brilliant’.

Significantly even at a recent conference, Elon Musk was spotted with a Bitcoin-related book, however, it was not clear if he was actually reading it.


Please enter your comment!
Please enter your name here