Elon Musk, the Tesla TSLA chief executive who’s developed a controversial relationship with the bitcoin community over recent months , is again creating waves in cryptocurrency markets.
Musk took to his preferred platform, Twitter, to comment on the Bitcoin 2021 conference currently underway in Miami, Florida.
Bitcoin “is a helluva drug,” Musk replied to a video of bitcoin investors Michael Saylor and Max Keiser hyping up the crowd on stage at Bitcoin 2021, posted by another Twitter user who asked : “Where did we go wrong?”
MORE FROM FORBES While Elon Musk Boosts The Dogecoin Price, The Tesla Dogecoin Dream Is Already Coming True By Billy Bambrough Musk went on to flag a reply to one of his posts earlier his week which suggested he was breaking up with bitcoin.
“Bitcoiners arguing that its literally impossible to manipulate the price of bitcoin while simultaneously crying that Elon Musk is manipulating the price of bitcoin is peak hypocrisy,” wrote a Twitter user with the handle @CryptoWhale.
MORE FOR YOU While Elon Musk Boosts The Dogecoin Price, The Tesla Dogecoin Dream Is Already Coming True Crypto Price Crash: Is This The Real Reason Behind The ‘Brutal’ Bitcoin, Ethereum, Binance BNB And Cardano Sell-Off? Leaked Goldman Sachs Prediction Gives ‘High Chance’ Ethereum Will Eclipse Bitcoin Earlier, Musk posted a meme suggesting “joke” bitcoin rival dogecoin shared characteristics with the U.S.dollar—and is just “made up money with infinite supply.”
The post sent the dogecoin price, already up over 20% over the last week, sharply higher.Musk has become a major dogecoin supporter over the last few months, helping its price soar and pushing it into the cryptocurrency top five by value, behind bitcoin, ethereum, Binance’s BNB and cardano.
MORE FROM FORBES ‘It’s Inevitable’-Elon Musk Sends The Dogecoin Price Sharply Higher After Coinbase Drops Doge Bombshell By Billy Bambrough Musk also tweeted a cryptic, emoji reference to adult industry cryptocurrency, cumrocket—described by CoinMarketCap as “a blockchain-based project aiming to revolutionize the adult content industry” and intended to be used for tipping and messaging content creators on adult content platforms.
The price of cumrocket tokens, called cummies and traded on decentralized exchanges, doubled after Musk’s tweet.It had already surged this week after Musk posted “Canada USA Mexico” to Twitter, taken by some to be a veiled reference to cumrocket.
“Cumrocket coin has surged over 85% after Elon Musk’s tweet,” @CryptoWhale posted to Twitter on Friday.”We are for sure living in a simulation.”
“Great thread,” Musk replied .
Billy Bambrough
I am a journalist with significant experience covering technology, finance, economics, and business around the world.
As the founding editor of Verdict.co.uk I reported
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I am a journalist with significant experience covering technology, finance, economics, and business around the world.As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle.I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others.Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.
Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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