Bitcoin Price Takes A Blow Yet Again: Is This The Musk Factor?

Bitcoin’s price took a blow over the weekend when it hit nearly $42,000. The decline coincided with a series of tweets by Tesla’s Chief Executive Officer, Elon Musk. The tweets insinuated that Tesla may sell its bitcoin holdings worth more than $1 billion.

He has clarified in a recent tweet that Tesla has not yet sold any of Bitcoin. However, there is the tweet in response to a crypto whale that raised a few questions. CryptoWhale tweeted regarding Bitcoiners and the effect Tesla dumping its Bitcoins will have on them. The tweet read that Bitcoiners are going to slap themselves on finding out Tesla dumping the rest of their Bitcoin holdings. To this tweet by CryptoWhale Musk responded indeed.

Elon Musk who has been the biggest supporter of Bitcoin has recently been distancing himself from it. At this point, Musk doesn’t seem to be that impressed with the crypto space.

Peter McCormack apparently also posted a Twitter thread about Musk’s criticism of Bitcoin. Elon responded and said that obnoxious threads like this made him want to go all-in on Doge. Now many would resonate with this remark of Musk because there is so much obnoxious behavior in the crypto space. People are creating this free money in the world to make lives better and trying to do the best they can. They are looking to do all of this and then the same people for whom this is being done just turn around and criticize. No matter what tech one creates, good or cutting edge, or it’s innovating on things, people just find reasons to hate it. This is a reality of the crypto space and that is why so many people rage-quit.

Amidst these tweets, Billy Markus, co-creator of Dogecoin jumped in with a tweet about the Doge and Bitcoin. He tweeted that the war should rather be on scammers, jerks, liars, and the toxic crypto space and not Bitcoin versus Doge. Recently there has been a lot of debate going on between Bitcoin and Doge, mostly due to Musk’s tweets. However, Markus believes that it is possible for the two crypto tokens to co-exist.

However, the debate is not Bitcoin versus Doge it is rather Bitcoin versus anything else. It is like Bitcoin versus the idea of crypto working like a project itself because Bitcoin is too expensive. Elon has been pointing out that whether Bitcoin is a viable solution for money or is it not. So bringing doge into the equation doesn’t seem relevant, though it has been gathering more steam over time.

Elon is still holding a bunch of Bitcoins but everyone is criticizing him now. He has one of the largest stockpiles of Bitcoin yet everyone thinks he is not a Bitcoiner anymore just he questioned the token.

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