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Is the crypto market still affected by what Elon Musk says?


Many newcomers to the crypto market, especially those from other financial markets (stocks), were overwhelmed by feelings of confusion and astonishment when they saw that a few words from “Elon Musk” on Twitter shake the crypto market, either positively or negatively.

Elon Musk from Tesla is one of the few influencers to have had a major influence on the Bitcoin price recently.

In recent podcast , Dan Heald, the director responsible for growth and development at the crypto company “Kraken”, spoke about the impact of “Elon Musk”:

It is very insulting.

What Musk is doing is absolutely ridiculous and makes this market look like nothing.

“Dan Held” expressed his disappointment about the influence of “Elon Musk”, explaining “Held” and continuing to emphasize that there was no idea about the actions of “Mask”.

On the other hand, the podcast host, Peter McCormack, reacted to what Held said, and he also said:

Other people from the industry including the likes of Adam Back deserve more influence in the markets than “fools” like Musk.

Complementing the above perspective, Held stated that the CEO of Tesla was just lucky to have influenced the crypto market in this way.

And he said:

Bitcoin is bigger than Elon Musk.

Bitcoin is bigger than anyone else.

We don’t really care what Elon has to say about Bitcoin anymore.

He added:

Bitcoin’s future should be determined by the consensus of the entire network, rather than a small, wealthy, and influential group.

Even these big people who come and swing will lose their influence very quickly over time.

Regardless of the “Bitcoin Board” idea promoted by Michael Saylor and Elon Musk:

Held emphasized that he fundamentally disagreed with the idea itself.

Commenting on the recent discussion about Bitcoin energy consumption, which Mask took as an excuse, he told Held that Bitcoin was doing an exceptional job and did not have to defend its energy consumption, and went on:

We must retreat from the narrative that Bitcoin is a waste of energy or dirty.

It’s totally absurd and double standard.

In the end, Mask may come and go, but Bitcoin will last forever!

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