Once again, Elon Musk’s love for Dodge Coin and the work to bring bitcoin down has begun. As always, Musk has used Twitter to do this. Musk made a tweet today where he called for #Bitcoin. Along with a broken heart symbol and posted a photo on which a boy and a girl are sitting and some text conversation going on–
The girl says, – I know I said if you used the song again, then everything will end between us, but I have found someone else.
The boy says - so in the end it …..?
Read the full conversation here
Shortly after this tweet, Musk tweeted another, which showed a meme where a boy and girl are talking on an online video and the boy is crying after looking at the Bitcoin chart.
This could well be a joke for Musk, but it is having an adverse effect on crypto. After this tweet, the price of bitcoin has seen a drop. Bitcoin has fallen from $39297 to $36500 in one day, this decline could be bigger now.
Elon Musk’s company Tesla started investing in bitcoin only last year. Musk has been tweeting about Dodge Coin from time to time. Doge Coin has reached up to 75 cents (or maybe a little more than that but not in my knowledge). However THAT Saturday Night Live what people expected did not happen and today Dodge Coin is down to less than 40 cents or fallen almost by 50%.
Musk is a businessperson, and he knows well how to make money. Tesla and Musk must have also taken all the information about bitcoin. One day Musk suddenly realizes that bitcoin is causing a lot of damage to the environment and that is why he is withdrawing the decision to sell Tesla with bitcoin.
Musk should know how much damage the battery from which his Tesla runs does to the environment. No one knows whether Tesla has held or sold bitcoin because none will talk about that or even know about that. The price now is still twice as much at what Tesla bought bitcoin.
A business owner like Musk knows that he cannot earn as much money from bitcoin as he does from Doge. Even today, if Tesla invests in bitcoin at $35000 and this year it goes to a million dollars, then this investment will be three times. But if Tesla or Musk invests in Doge today and it goes to $3-4, the same investment would be eight to ten times.
Taking Doge’s price to this point $3-4 is not a big deal for Musk. Most of the holding is in 20 (90%) wallets. So in fact, there are only 20 wallets and how many of these belong to Musk is a big secret.
Dumping crypto on investors is not a new thing and after taking their profits in Doge, Doze Father is going to do the same. The founder himself has said, “Elon Musk is a self-centered person”! Musk knows that bitcoin is a vast community and he can’t play with it much but a project like Doge is easy to manipulate.
Please excuse me Elon Musk if I say you got a lot of attention by the crypto community, especially by us, the small investors which was probably why you had started to believe that bitcoin was doing such a good business.
The crypto community has to understand that bitcoin is based on very strong backing from the crypto-world that will keep it alive. And it can’t end and that’s why don’t consider bitcoin depends on any one person. A big fall in bitcoin’s price has happened before and it always came stronger.
Remember 2012, 2017, and 2020? And there was no Tesla, no Twitter, or no corporate involved at any of those times.
We know Elon Musk better now and for the time being, Musk will probably continue with his tweets and he would like to show that Doge is better than bitcoin by bringing down the price of bitcoin and raising his favorite Doge, but he will soon find out that bitcoin is bitcoin and doge will never replace it.
