I respectfully disagree. I think he has to think about the entire crypto ecosystem. People getting burnt in the short term is not a good thing for the long term development of decentralisation. People will run back, screaming for centralisation again. This would hobble the application of this technology (I'm more interested in the tech than the money).

I think Elon Musk can say what he wants to push his company, but he can run at a loss and take it out of his own money. Rich people can buy his car as a status symbol, and it is also a solid tangible product. Crypto and it's applications needs the support of the masses, the little people to succeed. For that to happen, we need to gain the trust in small steps. People risking their life savings in risky ventures that they have no understanding of will be counter productive. We need to play the long game.

I say all of this with my own investment in crypto. I want the system to succeed, and I have done alright out of it so far. But I would be crazy to dump my life savings into a single asset class. With the profits I have shifted some into stocks and mining stocks specifically. I know others are diversifying into real estate.

In the end, we want smart informed investors and backers. Not the ones that jumped on board at the end of last year.