Did Elon Musk Destroy Bitcoin and Crypto?

Did Elon Musk Destroy Bitcoin and Crypto?

By Sylvain Saurel

Elon Musk has great power to influence the cryptocurrency industry as seen between May 13, 2021, and May 21, 2021, but Elon Musk does not have the power to destroy Bitcoin.

Bitcoin does not need Elon Musk to survive. Bitcoin is the people’s currency backed by the people.

The Elon Musk saga will, I hope, have taught newcomers that you should never give too much importance to someone’s opinion. Whether that someone is called Elon Musk or not doesn’t matter.

Bitcoin has already recovered with a strong rebound after bottoming at $30K:

For the rest, you need to learn to step back and see the bigger picture. If you do, you will see that the fundamentals of Bitcoin have not changed.

The Bitcoin revolution continues to progress block by block.

Trust and patience are the keys to making the most of it in the future. It’s up to you to decide whether or not you want to be part of this revolution.

Here’s what others had to say:

Mark Nicholson
Thankfully you are correct. F**k Elon Musk.

Foysal Miah
While Elon Musk has slightly influenced the crypto exchange market this year, I can tell you now, the recent drop was definetly not solely because of his tweets.
Drops like this happen quite regularly, if you look back through the historical charts since the creation of Bitcoin..

Edgar Moria
Bringing an asset to government scrutiny is detroying it. Time will tell but if you think bitcoin is forever I urge you to think again. Blockchain may be tho.

Amol Mozarkar
How good is a currency if one man can make or break it… don’t think so!

Zack Johnson
bticoin crashes are like inflations. if 00.1 bitcoins meanins 5 dollars and bitcoin price goes down and 00.1 bitccoins means 1 bitcoin 00.5 bitcoin would be 1 dollar.

Editor’s Note:

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