Elon Musk, the CEO of Tesla and SpaceX, received a warning from the hacker community 'Anonymous' on Sunday, accusing him of having "liquidated ideas" and "destroyed livelihoods" with his tweets about cryptocurrency. A single tweet from a tycoon in the United States can send the value of a coin surging or bring it to the surface.
As a cryptocurrency aficionado, Elon Musk shares his thoughts on digital assets practically daily via Twitter and has even called himself the "Dogefather" of cryptocurrencies in the past. Recently, the billionaire has been tweeting more and more about Dogecoin, a digital currency based on the Shiba Inu dog that began as a joke on the internet.
'Bitcoin as a form of payment'. The reaction to Musk's tweets has become increasingly harsh in recent weeks – people simply blame him for rising or dropping prices, telling them it costs them a loss and manipulating the markets. Some even went so far as to launch ($StopElon), a cryptocurrency dedicated solely to dethroning Musk.
For more than a year, Elon Musk has tweeted about cryptocurrencies multiple times, all of which have garnered attention for triggering price changes in cryptocurrencies. Most of his tweets, of course, focused on Bitcoin and Dogecoin in particular.
In response to Tesla CEO Elon Musk's announcement that the electric carmaker will resume cryptocurrency transactions once mining starts with more environmentally friendly options, bitcoin surged above $39,000.
After Sygnia's executive chairman accused Musk of "controlling the bitcoin market," the famous CEO reacted. Tesla will resume allowing Bitcoin transactions once it has received confirmation that miners are using acceptable (50 %) energy production and that the future trend is good.
Bitcoin's market valuation has risen to $733 billion, accounting for more than 45 percent of the overall crypto market capitalization, following the latest increase.
Elon Musk made the first public reference to bitcoin in 2014, stating that it was 'probably a positive thing. It wasn't long before rumors began to circulate that he was Satoshi Nakamoto himself (pseudonym of the Bitcoin founder).
After committing himself to a more serious cryptocurrency adventure in 2019, Elon's skepticism about cryptocurrencies began to change for the better. Considering its technology and usability as a prospective element of his business model, he began to investigate it.
After a Twitter post from Elon Musk implying a possible split with the largest cryptocurrency, bitcoin prices fell more than 3 percent to roughly $37,809 on Friday, the latest posting from the businessman to have an impact on the token's price.
Users can spend money anonymously with Bitcoin because it is not connected to a bank or financial institution. There is no physical counterpart to a virtual currency. The currencies is created by users who "mine" them by granting computing power to other users in order to verify their activities.
Also available for purchase and sale on exchanges are coins, which can be exchanged for United States dollars or other currencies. The cryptocurrency Bitcoin is accepted by a few businesses that accept payments, as well as several commercial banks, allow it to held in customer portfolios, but its widespread popularity is still limited.
Bitcoin prices have been roiled by Musk's social media posts, notably his decision to withhold Bitcoin payments to Tesla Inc. because of concerns about the environment.
The anonymous group has expressed in the clip that Elon Musk's reputation is not one that he deserves, and they have also included their viewpoints in the video. According to them, he has lost control of his public image, which has led to his being perceived as a selfish, wealthy jerk who seeks attention.
The group also addressed Elon Musk's Twitter tweets, expressing their belief that he had been able to gain a large number of followers and generate a frenzy by insulting one another on social media platforms. They said that all his Twitter messages were nothing but trolls.
They have added that the hunt to save humanity, which Elon Musk claim, is stupid and not an actual concern he holds for humanity. They said that the corporation had generated money by storing bitcoins and blamed Elon Musk for dabbling with crypto-monetary games that damaged people's lives.
Elon Musk's tweets about bitcoins are believed to be one of the primary reasons for the video's release. It is widely believed that Elon Musk massively boosted the value of bitcoins by convincing a large number of his followers that bitcoin was valuable and that they should invest in it.
A video posted by Anonymous claims that Elon was already aware of the environmental damage done by Bitcoin and that he took this action when it became clear that the government subsidy provided to Tesla was causing environmental damage. Musk has denied this claim, saying that the video was scripted by Anonymous.
As a relatively solid corporation, Tesla appears to have been thrown to the side by the hacker group's recent charges against Elon Musk. The stock price of Tesla has grown by 3 percent since the clip popped up, indicating that the hacking group's allegations have been brushed aside.
Instead of receiving vitriol from all corners of the internet, Tesla's CEO received messages of encouragement and affection from his fans. In the middle of the claims leveled against him, the hashtag #WeLoveYouElon became a trend on Twitter.
The post comes after an unnamed hacker group 'threatened' Musk to influence the Bitcoin market through its tweets.
His response to the hacker mask meme seems to be no unexpected, and he received negative feedback from the hackers in response to it. After going viral, the video sparked the creation of numerous memes, which Musk, a self-proclaimed fan of dank memes, joined in on. Hannah Montana is actually Miley Cyrus," he said, taking a shot at the hackers' organization. "