Moron was the only word that I could think of using to describe the boss of Tesla that wasn’t too offensive!
It really pains me to see what he has done to the crypto markets over the last week.
Not because of any personal losses… even though it hurts. But there are thousands maybe millions of others that have more than likely been really burnt by his antics.
It is far from acceptable!
What he is doing is really no different from insider trading. That carries serious penalties in the US. But because of how Bitcoin and crypto’s are decentralised and unregulated it allows him the right to play God with people’s finances. It’s terrible that he is allowed to do that.
[You can read here why he is apparently not breaking the rules].
But regardless of that, he [Musk] is just a total idiot in my opinion. I don’t see how costing people profits on their crypto investments is going to help his Tesla business long term? Does he even think of that?
Someone recently pointed out that he is a Bipolar sociopath and I have to agree that this may be why he acts the way he does.
However… I can only imagine that if he carries on with all this playing Crypto God that he’s on the path to upset the wrong people one way or another very soon.
Is it a Bitcoin Crash?
One man and his tweets is not a crypto market. And no I don’t think that this is a crash. A sell off yes of course, but it is just Bitcoin doing its thing.
Think about March 2020 when Bitcoin went from $10000 to $4000 a 60% pull back during the start of the Covid Pandemic. 12 months later Bitcoin was trading at around $50000. Incredible!!! Very few predicted that.
But now every correction is a crash… even if it’s bought on by the worlds biggest *** and has no true underlying reasoning.
Look at the charts, I think we have a long long way to go up, with or without the likes of the false God Elon Musk.