Elon Musk – the head honcho behind SpaceX and Tesla – got under crypto enthusiasts’ skin this week when he submitted a very strange tweet about bitcoin.
Elon Musk Is Up to His Old Tricks
The world’s number one cryptocurrency has a very bad habit of attracting unwanted attention and controversy wherever it goes. While many are in favor of the digital asset, others see it as something to utilize in malicious actions or as a means of stirring the wrong kinds of feelings within the industry.
It is unclear what Musk’s intentions are at the time of writing, but his actions have got a lot of people questioning and cocking their heads to the side in confusion. Elon Musk took to Twitter to write a very simple, yet cryptic, phrase:
“Bitcoin is not my safe word.”
What does that mean? Not your safe word? Are you saying that whenever you’re in danger or you’re feeling threatened by something it doesn’t occur to you to say the word “bitcoin” until it’s all over? What do you mean it’s not your safe word?
This almost feels like another opportunity for Musk to push cryptocurrency lovers’ buttons. It wouldn’t be the first time, either. Musk always happens to integrate himself into the crypto community through the strangest of means. Remember early in 2019 when it was announced that Musk would potentially serve as the new chief executive officer of Dogecoin?
The currency – which started out as a joke – ultimately became one of the crypto industry’s biggest success stories when it reached a market cap of about $1 billion. Musk took to Twitter in 2019 to suggest that Dogecoin was arguably his favorite cryptocurrency.
From there, everyone involved in Dogecoin believed that Musk would be the perfect candidate to take over the duties of monitoring, governing and distributing the currency, though this never happened, and the entire situation replicates some sort of weird comedy hour on a late night talk show.
The Good and the Bad
Musk has also been “indirectly involved” in crypto in a way that has caused people to lose out on their money. Remember when his profile was being utilized in a bot scheme that requested bitcoin donations? Sadly, many people fell for the scam before it could be established that Musk was not the one responsible, nor was he in need of any crypto funds from everyday users.
Still, now and then, something legitimate seems to stem from Musk’s activity and presence in the crypto space. Recently, hedge fund manager Mike Novogratz reached out to the esteemed car maker and advised him to tokenize SpaceX and to utilize cryptocurrency to empower the company. Given the promise of blockchain and how far it’s come in the past three years, one can’t help but think that this is probably a good idea.