From Tesla CEO to the father of Dogecoin, Musk does not love Bitcoin

Recently, Musk changed his previous attitude of supporting Bitcoin. He first tweeted that Bitcoin consumes too much energy, uses too much non-renewable energy and causes adverse environmental impacts, so Tesla stopped Bitcoin as a means of payment. At that time, Bitcoin fell by 15% in response, and the entire network liquidated more than 2 billion U.S. dollars. However, Musk himself refuted rumors that he did not sell the bitcoins he personally held.

On May 16, Musk’s attitude towards Bitcoin changed significantly. He made frequent speeches on Twitter, first saying that he is working with Dogecoin developers, hoping that ideally, the Dogecoin block time can be accelerated by 10 times, the block size will be increased by 10 times, and Reduce the processing fee to 1/100.

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Then a user asked him whether he would consider launching a new token, meet your technical requirements and complete the decentralized operation from the beginning. Musk said that creating new tokens is a very troublesome thing, and if Dogecoin can meet all needs, he would not consider creating new tokens.

After that, in the constant questions from netizens, Musk began to show his "dissatisfaction" with Bitcoin. A netizen attached a picture and asked him "How to solve the problem of Dogecoin being too centralized?" In the picture, there is only one address with 10 billion Dogecoins.

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In this regard, Musk replied, "This large account should belong to the exchange, maybe you can confirm it. I was told that the largest account should be Robinhood."

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At this time, he has not yet made a very clear "criticism" against Bitcoin. However, in the early morning of May 17, when replying to Twitter netizens, the "money master" bluntly stated: "Bitcoin's computing power is highly concentrated, and the power supply obstacle in a single area has actually caused Bitcoin's computing power to drop. 35%, this is obviously not decentralized", he also said that as for currency experts, have you heard of PayPal? I probably know more about how money works than you do.

A netizen named Mr. Whale posted, "In the next quarter, bitcoin investors will probably face themselves after they find out that Tesla has dumped their holdings of bitcoin. Musk has received so much disgust, but I don't think so. will blame him."

Musk replied: "Indeed."

As of press time, Bitcoin is currently quoted at $44,900, down 6.45% in 24 hours. It is not yet possible to confirm whether Tesla and Musk himself have sold their Bitcoin holdings.

Anthony Pompliano, the founder of Morgan Creek, also commented on Musk's behavior, saying: "The world's richest man has spent billions of dollars in the past decade to buy one of the world's best performing assets, and now he spends time making Internet jokes Dogecoin) has become technically more efficient. Magical.”

Even Dogecoin co-founder Jackson Palmer tweeted: "Musk is a selfish liar."

In the past, the encryption world has been thinking about how to "break the circle" and attract more attention from traditional fields. To promote Bitcoin to more users, most of the enthusiasts in the encryption community also default that the newly entered funds should eventually flow into the leading asset of the cryptocurrency-Bitcoin. So what if the new capital doesn't like Bitcoin?

Musk did not choose Bitcoin, but preferred the meme token Dogecoin. In the future, there may be more investors from different backgrounds and fields pouring into the encryption market. Will they only choose Bitcoin? This may be a new challenge for the encrypted world.

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