Once again Elon Musk is in the news in relation to bitcoin/cryptocurrency and once again he’s proving he’s full of shit. Personally I can’t figure out if he’s just that ignorant when it comes to cryptocurrency, because he has said a whole lot of stupid stuff in relation to it, or if it’s just manipulation, which we all know he’s very good at. Overall I think it’s a mix. I believe he likes the Proof of Stake aspect being that it gives the largest wallets an advantage. Which is exactly what he’s arguing against here..oh the irony.
Well, I guess he just likes Dogecoin a lot from what I have been seeing, because he’s always talking good about Dogecoin. Although I also know that is one of the strategies for him to pump, but right now I think that the pump for dogecoin is over and it won’t be going up again for now. Moreover a lot of the meme coins fans have shifted to SHIB, and even SHIB right now is bearish in price.
Elon was a big fan of bitcoin at the beginning, but later complained about how bitcoin is being mined, which I think is the reason why he switched to dogecoin, because he believes that it is better, and he has also claimed quite a few times that he plans to work with devs and improve the platform of Doge. Anyways, it’s not like what he says really matters to me at all.