Earlier this yr, Elon Musk was thought-about a crypto hero following Tesla’s $1.5 billion Bitcoin purchase. However in line with sentiment monitoring agency Awario, public opinion has since swung the opposite means.
This alteration of coronary heart comes following Musk’s announcement that Tesla would not settle for Bitcoin as fee for its autos. The now notorious tweet gave an environmental justification for the motion.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Many thought-about this as an assault on the main cryptocurrency. As such, it’s not stunning that attitudes in direction of the eccentric billionaire have sunk to a brand new low. However simply how unhealthy has it develop into?
Knowledge from Awario reveals tweets of a optimistic opinion on Musk reached a brand new low final month. This corresponded along with his U-turn on Bitcoin and the next crash in its worth.
Firstly of this yr, tweets in favor and in opposition to Musk have been degree pegging in quantity. However by Could, the ratio of positive-to-negative sentiment dipped by a couple of quarter hitting its lowest proportion since October 2020, which was when Awario first started monitoring this metric.
.@elonmusk’s optimistic/adverse sentiment on Twitter has hit a brand new low since he introduced Tesla would not settle for #bitcoin for fee. The reversal sparked a 35% decline within the worth of $BTC & a wave of adverse tweets
— Zack Guzman (@zGuz) June 2, 2021
Again then, impartial tweets about Musk shaped the largest class, accounting for 66% of tweets. This was adopted by adverse tweets at 19.2%, and optimistic tweets mentioning the rear at 14.9%.
Commenting on the state of affairs, Ross Gerber, the CEO of funding agency Gerber Kawasaki, warned that manipulating markets and taking part in with folks’s cash is a dangerous technique for Musk to take.
“However I believe it’s a really harmful space for Elon to get in when he’s inflicting folks losses like he did the opposite day and it turns folks in opposition to him and in the end Tesla,” he mentioned.
Okung tells Musk to remain in his lane
Gerber wasn’t the one one to supply Musk recommendation. Former offensive sort out for the Carolina Panthers, Russell Okung launched a billboard marketing campaign that includes himself, suggesting Musk maintain out of Bitcoin and concentrate on house as an alternative.
The marketing campaign will run for 2 weeks in Miami, Florida to coincide with the Bitcoin 2021 convention being held within the metropolis. In addition to on cell billboards round SpaceX’s launch website in Texas, and a Tesla facility in California.
The press launch accompanying the marketing campaign mentioned this was a “light reminder to the general public” that Musk is comparatively inexperienced to cryptocurrency and shouldn’t be thought-about an authority on the subject.
Okung hit the headlines final yr when he opted to obtain half his $13 million wage in Bitcoin.
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