Blockchain

After the entire market collapsed, Elon Musk expressed tepid support for cryptocurrencies

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After experiencing a severe market downturn, growth may accelerate this weekend. In a tweet this morning, Elon Musk expressed moderate support for cryptocurrencies.

Tesla CEO About the face of accepting Bitcoin payments A Twitter user replied that the new car was widely regarded as a catalyst for the economic downturn last week. He asked himself what he thought of the “voyeurs who are angry at you for cryptocurrency.”

In response, Musk seems to have a long view on this situation. He said that the main challenge for cryptocurrencies is not short-term price action, but the ongoing struggle with fiat currencies:

The entrepreneur pointed out that he “supported” cryptocurrencies in that battle, but only reluctantly supported it, and pointed out that the decision was “balanced.”

Since the market downturn, Musk’s tweets about cryptocurrencies have been receiving attention-a brutal crash wiped out more than 50% of the prices of major digital assets and raised concerns about the possible end of the bull market.

Musk-by whom Multiple studies that can influence the Dogecoin market With his tweets, even though larger currencies by market capitalization have proven to be more resilient-until recently his support has been uneven and he insisted that cryptocurrencies need a way to make the environment more friendly.

The financial media has been paying close attention to his indiscreet and frequently changing views, enough to make a recent survey show that half of Australians Believe that Musk is the inventor of Bitcoin. Bitcoin was created by the developers of Satoshi Nakamoto.

However, as the petition circulated, the cryptocurrency community seemed to be turning to him for help. Urges the world’s third richest man to sell his bitcoins, And the Bitcoin currently held by Tesla.