Exorcism: The Crypto Community and Elon Musk

Exorcism: The Crypto Community and Elon Musk

By bit.team

Since February 8, when Tesla, his electric car company, announced a $ 1.5 billion purchase of Bitcoin, the asset’s price has been rising and falling, according to further statements by Musk.

The person who should be silent

Bitcoin surged when Tesla said it would start accepting Bitcoin as payment for its cars, and started to fall when Musk said last Wednesday that PTS was no longer his company’s means of payment. This “helped” Bitcoin to roll back by about $ 10,000, or almost 20% in 12 hours.

Then Bitcoin fell again on Sunday, when Musk seemingly hinted on Twitter that Tesla had sold its bitcoin holdings. It then rose (though not enough to offset the losses) when, on the same Sunday, he tweeted (to clarify the matter) that Tesla had not sold its Bitcoins.

Is it any wonder that the bitcoin community, according to Danyal Rashid, an analyst at GlobalData, felt that Musk had too much influence on prices?

There are concerns that its ability to influence price changes is bad for the reputation of Bitcoin and other crypto assets. “People may lose faith in these cryptocurrencies, as a single tweet from Musk could radically change the price, canceling any idea that there are any real fundamentals,” Rashid wrote. And the crypto-etusiasts decided to act

And a token was issued, under the ticker StopElon. The cryptocurrency was developed in connection with the statements of Elon Musk on Twitter. This cryptocurrency aims to take Tesla away from Elon Musk at the end of a four-step roadmap. Interested investors can purchase this cryptocurrency through PancakeSwap.

Elon Musk is undoubtedly one of the most talked about names in recent times. And at first it looked funny, and his statements were even laughed at for a while, exposing them to criticism from investors. But that ended when, in part, he still managed to undermine the crypto markets.

In response, a group of developers launched a cryptocurrency called StopElon, which they developed against Elon Musk.

StopElon-counteraction token for Elon Musk

The token is aimed at directly helping cryptocurrency investors, especially new investors. According to the team, investors in the StopElon token will have the opportunity to closely monitor Elon Musk’s statements about the market. However, the purpose of this cryptocurrency is not only to inform the investor. The STOPELON team has quite ambitious plans: it aims to take over Tesla one day, even though it sounds a bit strange.

The developers of StopElon have made a plan of 4 steps for themselves. The roadmap focuses on promoting this cryptocurrency through investor rewards, innovation in Blockchain networks, and a large lottery. At the last stage (enrichment at the expense of investors), the team will seek to take away Tesla from Elon Musk. It seems that only one ultimate goal is able to gather an army of users, and will lead millions of investors.

StopElon is not a cryptocurrency that is currently listed on major exchanges. At the moment, the price of the token, which can only be purchased on PancakeSwap, is $0.0000509669. If you want to become its owner (we are not interested in any goals), we strongly recommend that you think about it. Since such a cryptocurrency can get serious support, you may also encounter a system based on fraud.