Elon Musk and Bitcoin: Stirring the Pot, Or Something More?

Elon Musk and Bitcoin: Stirring the Pot, Or Something More?

Elon Musk, maestro of the Boring Co., SpaceX, and Tesla, has namedropped bitcoin again on Twitter. As such, speculation has mounted around what the entrepreneur of both land and sky was suggesting, if anything. 

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Musk: ‘Want to Buy Some Bitcoin?’

Elon Musk has caused another stir in the cryptoverse, this time after asking whether Twitter users wanted to buy bitcoin in a jolly October 22nd tweet thread that has since achieved nearly 300,000 retweets.

Musk, who earlier in the day had announced the Boring Co.’s launch of its first hyperloop test tunnel this coming December, has a penchant for being both playful and serious. That is to say, when Musk makes jokes, many think he’s being serious, and when he’s being serious, many think he’s joking.

Elon Musk
The thread that started it all. Further in, Musk asks a user, “Want to buy some Bitcoin?”

In that context, the cryptocurrency ecosystem’s bulls, bears, and beyond have parsed Musk’s latest bitcoin tweet in trying and finger what is and isn’t there.

In a thread that began with Elon Musk professing his love for anime, one user asked “what’s happening w 2 factor auth for Tesla account,” to which Musk invoked BTC and posted an image from Cryptocurrency Girls, a site that melds anime with cryptocurrencies.

Later yet, Musk responded to the same user with “Working on it.”

Amid growing security concerns, Tesla recently added a two-factor PIN option for its drivers, though it wasn’t clear if this was the two-factor feature being referred to.

In the aftermath, Musk’s account was temporarily locked after Twitter suspected it had been compromised.

What Gives?

The thread has started making its rounds through the cryptocurrency ecosystem, with a range of theories rising as to what Musk was getting at.

Some say he was mocking. Some say he’s achieving meme lord status. Others have wondered if Musk was suggesting he had a cryptocurrency platform or service in the works.

Whatever ends up the case, his tweet will have eyebrows raised for now.

The entrepreneur has been under consider public scrutiny over the past few years, though such scrutiny has ratcheted up in recent weeks. Musk took the finance world by storm in August 2018 by suggesting he was considering taking Tesla from a public to a private company and that he had “funding secured.”

Not long thereafter, the U.S. Securities and Exchange Commission slapped Musk with a fraud lawsuit for misleading investors, which he settled for $20 million USD and consequently agreed to step down from Tesla’s Board of Directors.

Likewise, his public profile has arguably never been higher.

Musk’s past flirtations with cryptocurrency have predominantly stemmed from Twitter, where his account has proved to be a major target for “Send 1 ETH, get 10 ETH back” type scammers this year. Back in February 2018, he clarified that he only owned .25 BTC at the time.

What do you think Elon Musk was getting at in his bitcoin tweet? Is it much ado about nothing, or is Musk clearly teasing something tangible? Be sure to let us know where you stand in the comments section below. 


Images via Twitter, Famous Biographies

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