Top 10 Reasons Why Elon Musk (TESLA) Hates Bitcoin "Right Now".
**Top 10 Reasons Why Elon Must Sent That Tweet. **
Elon's company is trying to implement solar-powered miners to mine Bitcoin, stealing competition from Chinese miners.
There is a massive hedge fund that is shorting Tesla but at the same time was longing for Bitcoin as a hedge.
He wants to buy more Bitcoin at a cheaper price.
He wants to scale out of his Bitcoin position and into something like Cardano or Ethereum since Cardano is proof of stake and Ethereum will move to proof to stake sometime this year. And as we can see Cardano's price has been very steady.
The board at Tesla wants to lock in a federal government contract to offer renewable tax credits in the future for people who either want to buy a Tesla car or install solar power. They are trying to impress the United States Biden Administration who "supposedly are green and eco-friendly politicians" to fit a specific narrative.
The US government is losing the battle over inflation and does not want Bitcoin to take over.
Elon Musk thinks Bitcoin Maximalists are annoying and just wants to annoy the community. He is one giant troll.
If the Stock Market falls the powers that be also want the crypto market to be positively correlated so investors do not find a way to hedge and flee to safety which is cryptos.
Elon Musk is a puppet. He had no say over this particular tweet.
Elon no longer believes in Bitcoin. So he is trying to scale his way into dogecoin. Dogecoin is the future.
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Nick is a content creator for Sobuka with a background in programming, information technology, finance, and digital forensics.
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Disclaimer
The information on this blog is not financial advice. Before you invest in cryptocurrencies, please speak to a financial advisor.