Elon Musk is thought to have contributed to the recent falls in cryptocurrencies. As it is known, Tesla announced that it started accepting payments with Bitcoin approximately 1.5 months ago. However, according to the statements made by Tesla CEO Elon Musk on Twitter last week, Tesla stopped accepting Bitcoin payments due to environmental factors.
Bitcoin and cryptocurrencies also suffered a noticeable loss in value with the effect of both this news and negative news from China. But Musk seems to support cryptocurrencies despite everything.
Traditional Currencies or Cryptocurrencies?
In his recent statements on Twitter, Musk stated that he supports cryptocurrencies more than traditional currencies. “Elon, what do you think about the peeps who are angry at you because of crytpo?” user asked to Elon Musk on Twitter. “The true battle is between fiat & crypto. On balance, I support the latter. ” He used his words.
Complicated Expressions of Musk
Although Elon Musk uses expressions that support Bitcoin, it is stated that Musk uses very complicated expressions because he played a role in the recent fall. For example; The billionaire entrepreneur stated that Bitcoin is not decentralized enough, as most of the hash rate is concentrated in China.
In addition, it can be stated that Musk has a great influence on Dogecoin (DOGE). It was recently stated that Musk is working with Dogecoin developers to increase transaction efficiency.