Originally these 2 groups had a huge overlap, but now there is a schism caused by the billionaire manchild, that will cause split personalities for millions of millenials. Elon started the first shot, after nicely building up BTC with his Tesla extra money backing, then when profits were good, he cashed out. (most likely) That alone wouldn't be a capital sin, but he dared to tweet about it and he embraced another competitor crypto, namely Dogecoin that has been regarded as a joke and shittiest of all shitcoins. (Mind you, as a currency it actually works better than BTC. But let's not get into logic and facts.) As we know Elon, he never backs down, so today he doubled down with his tweets. As a response BTC took further bath, dipping below 45K. That REALLY pissed off the Hodlers, thus the incoming crypto civil war. Get your soda and popcorn ready, because it sure will be entertaining!! https://twitter.com/i/topics/808713037230157824 https://www.bloomberg.com/news/arti...-tesla-may-sell-or-has-sold-bitcoin-holdings? "Musk has spent hours Sunday hitting back at several different users on Twitter who criticized his change of stance on Bitcoin last week, a move he said was sparked by environmental concerns over the power demands to process Bitcoin transactions. He said at the time that the company wouldn’t be selling any Bitcoin it holds. An outspoken supporter of cryptocurrencies with cult-like following on social media, Musk holds immense sway with his market-moving tweets. He has been touting Dogecoin and significantly elevated the profile of the coin, which started as a joke and now ranks the 5th largest by market value."
What can go wrong when man babies fight over non existent, made of thin air, currencies? Yes it's movie time. I am extremely amused. I am not invested either way but it would still be amusement to see all those idiots' accounts go back to zero. At least then they need to schlep their bodies back to some sort of paid job
If someone is a cult and idol figure as opposed to an idiot, then it becomes very interesting. So many personalities in one person. What our Ms. Cathie Wood has to say about Elon?
Why would anyone care? She is unhedged long on some tech stocks, and tech has been getting a beatdown. The hell cares about this person anymore? She over-levered on her positions and is now losing money for her clients. Who the FACK cares?
If you have wondered what the good people of r/Bitcoin think of Elon now, wonder no more: I never thought I am going to be on Elon's side about anything, and yet here I am. The best part is that most of the criticism what the 2 groups are throwing at each other is actually the truth, but neither see it that way. I guess 1 BTC =/= 1 Tesla anymore....
If what someone wrote on Twitter is true ("Tesla loses money, SpaceX loses money and Elon lives on Government subsidies"), it would have little to do with bitcoin, but it would say something about the man nonetheless. I'd be careful picking Musk as an idol (or investing in his companies) even if I was critical of bitcoin.