Eloneskish The ever-coy Elon Musk doused the Bitcoin fire in a chilling tweet. Musk is dancing. The format is Tango. May 12, 2021, Musk posted a note from Tesla, the electric car manufacturer. The message was most definitely Eloneskish.
The billionaire turned Doge-father, so called for heavy promotion of the Doge crypto coin, has a long-running track record of tweeting tunes accompanied by tumbling stock prices. An image still posted on Musk's official Twitter page reads:
Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.
"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.
"Tesla will not be selling any Bitcoin and we intend to use if for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction."
Tesla's retraction from accepting Bitcoin as legal tender for the car, appeared only 49 days after Tesla whistled for Bitcoin in exchange for its electric models. That day, market value for one Tesla stock was around $580, compared $55,000 for a single Bitcoin to compare. Musk sees the Bitcoin on the dancefloor looking glamourous.
He steps forward and offers the coinlady his hand. She follows his lead centerstage, The tempo changes. Musk spins the coin, he wraps her around his little finger and pulls her in. The Bitcoin feels secure. He twirls her, then flips and flings her under he legs.
As she slides across the room all the new comer dancers panic and bail, leaving the dance floor for the real Tango talent. Musk's statement made clear that he intends to HODL hid billion dollars position in Bitcoin.
Forget the debate over fossil fuels - that's a mute point at this point. The billionaire enjoys dancing, preferably, a format that resembles foreplay.
