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Bitcoin, an announcement by Elon Musk makes its price rise again

Words about reintroducing BTC payments for Tesla car purchases get the asset off the ground

A simple announcement from Elon Musk to see the Bitcoin resume her upward movement. The announcement in question is the one relating to the intention of reopen the possibility of paying in digital money for the purchase of Tesla-produced cars. Following which the price of BTC gave rise to a growth close to 13% in the space of a few hours. Confirming the always considerable influence of the South African-born billionaire on those who intend to invest in cryptocurrency.

Elon Musk Dogecoin - Bitcoin, an announcement by Elon Musk makes its price rise again

Elon Musk's announcement on Twitter

The magic words that once again propelled Bitcoin into positive ground have been entrusted to Twitter. It was Elon Musk's personal profile that announced that Tesla will resume accepting Bitcoin as part of its transactions if and when there is confirmation of a reasonable use of clean energy by miners.
The reasonable level has in practice been set above 50%, as a result of which the BTC network could significantly limit the possible environmental damage associated with its use. The message, however, came at a very special time, for the founder of Tesla.

A response to CoinTelegraph's allegations?

In fact, the tweet came as a response to an article published by CoinTelegraph. Focused on the figure of Magda Wierzycka, CEO of the fintech company Signs, who hadn't had too much qualms in accusing Musk of pump and dump on Bitcoin, after Tesla's purchase of $ 1,5 billion tokens at the beginning of the year.
Also according to Wierzycka, the company then divested much of its exposure when the price had reached its peak. Conversely promoting the collapse of the prices not only of BTC, but of the entire sector. A very heavy accusation, which goes in practice to resume those recently moved by Anonymous, which caused a great sensation.

Elon Musk's reply to Magda Wierzycka's accusations

Elon Musk himself, however, has decided to respond directly to the serious allegations about his Bitcoin pump and dump. Stating that Tesla would have sold "only" 10% of the tokens owned, to make it clear how a sale of this kind is not able to influence the market. As well as to justify the idea of ​​holding liquidity in the form of an asset considered unstable. The justifications of Tesla's CEO, however, do not seem justified, according to experts.

Elon Musk's influence on cryptocurrencies is always very strong

What is happening in these hours at the Bitcoin listing, once again proposes the problem represented by Elon Musk's influence on the cryptocurrency industry. The billionaire's messages and public statements, related to BTC and Dogecoin, they are in fact a factor which contributes to discrediting digital money. So much so that it has pushed more than one observer to accuse him of constituting one real market disturbance.
The problem is indeed of considerable magnitude. Not only can its pump and dump hurt a myriad of small investors, but it can also prevent political and monetary institutions from giving effective credit to what, too, could be a truly useful tool for solving some far-reaching problems in today's world. Starting fromfinancial inclusion of billions of human beings currently without the means to manage their assets.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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