Elon Musk calls Bitcoin BS in a Tweet, Says Dogecoin is the real deal
Elon Musk calls Bitcoin BS in a Tweet, Says Dogecoin is the real deal
DNakaMotooOfOurTime 20th, December 2020 (4 hours ago)
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“Bitcoin is as bs as Fiat money”- the tweet read.
Elon Musk, the CEO of Tesla and SpaceX has released a tweet regarding Bitcoin and Doge.
“Bitcoin is as bs as Fiat money”- the tweet read.
Elon has always supported Dogecoin and it's no surprise that although he runs two top tech companies, he has decided to have the Former CEO of Dogecoin on his bio.
Today, he himself tweeted “One word: Doge" thereby indicating that Dogecoin is the best cryptocurrency out there in his own opinion.
Bull Market
Elons tweets comes during a time when the market is performing quite well, it's reffered to as the Bull Run. Bitcoin has performed remarkably well compared to other commodity assets like Gold and silver. BTC beats it's last ATH and created a new All Time High (ATH).
Institutions has been indicating interest in Bitcoin since the Halving and some have invested millions of dollars before the pump. Company's such as GrayScale, Square and MicroStrategy have taken their positions in the market. PayPal also opened up their platform for users to be able to buy and sell Bitcoin, this is a bullish development for the crypto world since that means exposure to over 300M PayPal customers.
Other top cryptocurrencies are expected to follow Bitcoin slowly until what's popularly know as "Altseason", where other crypto tokens outside of Bitcoin starts pumping hard. This normally comes after BTC hits a new ATH and relaxes, then profits are spread out to other performing assets especially the top 10.
Elons Effect?
Dogecoin seems to have spiked over 17% today 20th-Dec-2020. It had pumped to $0.00465 at 11:00 and as the time of writing it has slowly declined to $0.00429, all according to coingeckos data.
Will Elon ever embrace BTC?, no one can say for sure but the bitcoin maximalists believes he will in time, some compare he actions to other top institutional investors who never wanted to get associated with Bitcoin who have since changed their minds, one example is JP Morgan who publicly declared Bitcoin a fraud and that it was going to 0.
Weather or not Elon Musk gets into Bitcoin, one point stands out.. Bitcoin will do it's thing and Bitcoin does not care what other people think.
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