There is a big noise on the Twitter social network because Tesla boss Elon Musk decided together with his administrative board not to accept Bitcoin Core (BTC) for the payment of their electric vehicles justifying the decision making with the immense consumption of energy generated for mining of a BTC unit. In this same tweet Elon assures that the Company will not dispose of the Bitcoin Core (BTC) that the company holds as a store of value, remember that Tesla bought $1.5 Billion worth of Bitcoin Core (BTC) in the recent past and shortly after it started to accept payment for their trams on the same asset for certain residents in the United States of America.
The fuss generated by Elon Musk's decision caused the entire market to collapse and lose much of its valuation and, whoever says that the same tycoon has already disposed of part of the billions that his company holds in Bitcoin Core (BTC) and not only, that intends to sell all his stock to buy the currency that he proclaims, Dogecoin.
I honestly believe that the Billionaire and his company may have disposed of their Bitcoin Core (BTC) arsenal and their next move is to invest more in Dogecoin, after all Elon is not a crypto man but an investor who is only interested in money. He is interested in money, yes, and where he can maximize but his earnings because let's see:
Dogecoin is still accessible
Meme coin🤷
The price of this coin is still very affordable to be bought by him and his company, because if we repair it it is only valued thanks to his tweets and using this same strategy you can ensure that even after Tesla dumps Bitcoin Core (BTC) he may still have purchasing power for doge and be amazed at the price rising day after day galvanized by his bursting tweets.
Dogecoin compared to Bitcoin Core (BTC) has the best transaction fees (bulls***)
Analyzing Dogecoin versus Bitcoin Core (BTC) in terms of transaction fees, we can see that the 'Hairy Dog' has the best fees in the market, which leads the company to earn more in terms of customers, as many people can join the currency valuing their heritage even more...(then Elon dump it and stop supporting it🥴) it's a meme just a meme coin...
Elon Musk and his money-making strategy
For those who follow Elon on Twitter, already noticed that he started to appear in the crypto market with great force in the end of 2020 and the entire first semester of 2021, in the past he appeared to make a tweet about the doge and he never got too involved with this innovational technology.
But, for some time now his participation has been quite active and shortly after Microstrategy, by the hand of its CEO Michael Saylor, acquired Bitcoin Core (BTC) as a store of value, the tycoon also invested in this market. His company announced the acquisition of $ 1.5 B and the entire market that it had already appreciated has increased even more and BTC has reached values never seen before.
Musk's strategy is quite simple:
Use his influence on the social network (more than 55 million followers) to increase the price of Bitcoin
With the price at its peak selling its reserve of value, of course with notable gains in profits as it acquired $1.5 B and had profits above $500M use it to go out and buy doge with the profits generated and continue to spread awareness through its tweets to raise the price and get a new fortune... And then do the same what did with BTC, dump it earn some more money and choose another crypto...
Elon only holds 0.25 BTC
The electric car and space exploration tycoon, according to public sources, never bought Bitcoin Core (BTC), except for the 0.25 BTC offered by a friend more than two years ago and neither is a publicly known Dogecoin address which is associated with it.
It is more than clear that he is not a crypto enthusiast, he is only interested in the money he can get out of it. It is obvious that a billionaire company like Tesla would only enter this market to make money and close gaps left by its major 'researching projects'.
Elon knew that his intrusion into the crypto world and his announcement to buy BTC would make the asset appreciate a lot and in a short time, making room for the sale of Bitcoin Core (BTC) acquired by the company and with that make a lot of money, money that couldn't be possible to have if only sold some cars in the same period of time.
It is clear that Tesla, a company that works with renewable energy, would buy Bitcoin Core (BTC), which according to them consumes a lot of energy for its issue would never keep the asset, it was a masterstroke perpetrated by Musk and his company and they will definitely do the same with Dogecoin if he's not stopped.
'Elon Musk is only interested in money' and one of the things that worries me today is seeing people in this market for a long time let themselves be influenced by Tesla's Boss tweets and later fall into disgrace. Elon currently has so much influence in this market that a single tweet can do huge damage to it.
Always do your own analysis (DYOR)
Men like Elon Musk exist (we can take by example John McAfee who also did this kind of marketing and we all how that ended, today the millionaire is in Jail waiting to be deported to US to face his crimes) but he has an advantage, he is one of the richest in the world and manages to influence people, institutions, governments and even important people on the planet as presidents of countries with very strong economic capital which are a tool for the his circle of friendship, with that said, it is worth highlighting whenever we think using our own heads. He is not poor and he is not looking to make a fortune, but he is looking to make a profit for his companies and to sponsor several projects that are in the pipeline and pay millionaire bonus to his executives.
He is a tycoon, which also makes him very dangerous because no one knows for sure what his real intentions are when he enters the door into the crypto world.
... if he has a malevolent interest in it, if it is a weapon to destroy it and is being used to try to destabilize it, nobody knows but let's think about it together, the man has 6 children with two different wives has 4 billionaire companies and still has time to promote Dogecoin is a Meme a useless coin that was invented as a joke ... Something doesn't smell good.
Let us think ... let us think and stop thinking that because he is a billionaire he cannot be part of a conspiracy to mock the decentralized world.
Final considerations
I prefer Musk to stay away from the Bitcoin Cash community his presence can be toxic that could make more harm than good after all we work very hard to make it a worldwide decentralized currency and surely we don't need celebrities to evolve as long we stick on focus we'll thrive, also I think it may evolve without needing Tesla to accept the currency for payment for its vehicles, but if it does, it will be cool, not necessary, but cool. We must continue to onboard merchants all over the planet make people get known about BCH and what it means, give power to persons to choose to use as payment tool and that could make even more powerful than to be accepted by any billionaire corporation, there's no purpose in using it to buy cars when normal people doesn't know the really purpose of Bitcoin Cash. All of us who are involved with crypto also want money that comes from it, but unlike the tycoon we believe in decentralization, it is an important tool for many peoples in the world who find in crypto their salvation.
People like him are not very interested in decentralization and still think like dinosaurs, in which the world must be controlled at all levels and like to control. If Musk was really a crypto enthusiast he would have long bought Bitcoin Core (BTC) and other cryptocurrencies, but he preferred to deviate and invest in other areas. Why would today change?! The man is a billionaire 🤔....
There are a lot of people in sheep's clothing while they are often wolves and when you least expect it, they are the ones who deal a fatal blow, so never let yourself be influenced while you can think.
I am admire people like @MarcDeMesel, @RogerVer, Pompliano, ChangPeng Zhao 'CZ', WinkleVoss Brothers and other prominent figures in the crypto world, people who believe in the decentralized world and their fortunes were made from this world, this is already a troll with dark intentions on the market and he hasn't even started his campaign yet!
Stay alert and never get deceived👀.
He's a selfish guy, he only look on the profit but not looking on its utility. He should consider Bitcoin cash to solve his problem.