Crypto

Cryptocurrency: why do followers hate Elon Musk?

Cryptocurrency enthusiasts hold a grudge against the South African billionaire: StopElon is proof of that. The creators of this anti-Elon cryptocurrency Musk take responsibility and want to end the influence of the richest man on the planet in the digital currency market.

In just a few years, Elon Musk has gone from bumbling nerd to one of the most controversial personalities on the planet. In recent months, Tesla CEO enthusiasts crypto casino found himself in the enviable position of being able to directly influence the cryptocurrency market. This is evidenced by a whole series of tweets, which were preceded in a few hours by a large wave of buying and selling.

Now a group of financial enthusiasts are defending themselves against this overwhelming influence and are launching StopElon, their own cryptocurrency aimed at limiting the influence of the billionaire on the prices of currencies.

Why so much hate?

According to official website of this new currency, StopElon was designed as “a community created to destroy the biggest market manipulator of all”, calling Musk “irresponsible” in his influence on the digital currency market. The launch of StopElon coincided within days with big boss Tesla’s announcement that his car maker would no longer accept bitcoin as a means of payment, prompting a backlash in the sector. Subsequently, the price of bitcoin plummeted, pulling the entire market with it. This is what prompted the creators of StopElon to act.

“Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account (…) Anyone with a bare minimum of critical thinking will see through his lies. He has been trying to pump crypto for years, tweeting about it endlessly and even going on Saturday Night Live as a last resort to raise Dogecoin! This is ridiculous! we can read on the official website of the new currency.

“He plays with people’s wallets (…) like the narcissistic billionaire he was and always will be. We say STOP. That is why we created StopElon. This is where we become rich and no one controls our destiny but ourselves. »

From launch to general enthusiasm

Since its launch, the movement seems to have resonated with the public. Statistics show that the cryptocurrency minted on Binance Smart Chain rose by 1800% in just 24 hours. If this growth is meteoric, it should be noted that the value has only increased from $0.0000019 to $0.00003679. However, this is a gradual jump, and if Dogecoin taught us somethingis that the Internet loves the movement of the crowd.

At this point, it’s still hard to confirm if the currency is real or just a clever conspiracy created online, but the creators’ commitment to the cause is undeniable. According to the StopElon website, the ambitious overall goal is to create enough value to buy Tesla shares, and the ultimate plan is to take full control of the company. A few more years of such growth, and it will become possible.

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