Elon Musk was chastised for his Bitcoin stance, saying that he was ‘doing it for the press.’
ELON MUSK has been chastised for his remarks on Bitcoin, with finance expert Carol Alexander claiming that he is “doing it for the publicity.”
Elon Musk remains a prominent figure in the world of Bitcoin, with the Tesla CEO claiming to know the identity of the cryptocurrency’s creator.
The name Satoshi Nakamoto is given to the unidentified person who invented Bitcoin.
“Well, you can look at the evolution of ideas before the launch of Bitcoin and see who wrote about those ideas,” Musk said last week.
“It appears that Nick Szabo, more than anyone else, is primarily responsible for the evolution of those ideas.”
Mr Szabo is a computer scientist who specializes in digital contracts and digital currency research.
Mr. Musk is a well-known figure in the cryptosphere.
Last March, he announced that his company, Tesla, would begin accepting Bitcoin as payment, but just two months later, he reversed his decision.
Bitcoin’s value plummeted as a result of the move, but Mr Musk said in July that Tesla is “likely” to accept it for payments again.
“I wanted to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend toward increasing that number,” he said, adding that if that is the case, Tesla would resume accepting Bitcoin.
“It’s most likely that Tesla will resume accepting Bitcoin.”
However, Carol Alexander, a finance expert at the University of Sussex, tells This website that Mr Musk does it for the media attention.
“Elon Musk gets a lot of press, and he uses Bitcoin to get a lot of press,” she said.
“There are a slew of other businesses that accept Bitcoin; they just don’t make a big deal out of it.”
“Elon Musk is making a big deal about it because he wants press attention.”
While Professor Alexander acknowledges Mr Musk’s power, she believes the SpaceX founder should not be taken seriously.
“Elon Musk has undeniable influence,” she continued.
He increases the value of Dogecoin by 500% just by making comments about it.
“People such as influencers, Musk, and others can manipulate sentiment to drive up the price of certain cryptocurrencies.
“What Elon Musk does is laugh and say, ‘I bet I can.'”
“Brinkwire News Summary.”