Tweets from Elon Musk make the Bitcoin price rise or fall radically-depending on whether the Tesla CEO has something positive or something negative to say about the number 1 cryptocurrency. But is that really true? How much power does the entrepreneur exert on the crypto markets? A new survey has now investigated this aspect – and comes to a clear result.
Bitcoin and Elon
Bitcoin’s energy balance, she seems to be a concern to Elon Musk. On Twitter, the 50-year-old regularly speaks on the subject. Mostly critical. And that’s exactly what influences investors – because they listen carefully to one of the richest men in the world. This has now a new survey of the financial portal Investing.com surrender.
The website had surveyed more than 1,100 investors at the beginning of June. It came out: 38 percent of all respondents had only learned through Musk’s tweets about how harmful Bitcoin mining allegedly affects the environment. More than 60 percent of investors also consider Musk to be the most influential person in the financial markets. Bitcoin-FUD and great influence – an unfavorable combination for the BTC course.
Run half of the respondents (49 percent) also stated that it is a problem for them that Bitcoin should be environmentally harmful. 20 Percent of Bitcoin investors surveyed have sold Bitcoin (to buy from eToro) in the last month-and 20 percent justify the sale with Musk’s Bitcoin environmental criticism. 72 Percent of investors also advocate a more environmentally friendly cryptocurrency.
Jesse Cohen, Senior Analyst at Investing.com:
“Bitcoin has an energy problem, as its network consumes more electricity than entire countries, such as the Netherlands or Pakistan.“
Whether Bitcoin actually has an energy problem, however, opinions differ widely. Many analysts stress that the reality is a bit more complex and that Bitcoin is in fact nowhere near as harmful as is commonly believed (as BTC expert Nic Carter explains in this English-language post)
Elon Musk: Does he have too much power?
58 Percent of respondents agree that the Tesla boss ” has too much power.” On the other hand, only 24 percent see no major impact on cryptocurrencies at Musk. 12 Percent even emphasize that Musk’s influence makes them “more confident about digital currencies.”
Interesting detail of the survey: The vast majority of investors surveyed (84 percent) are convinced that Bitcoin’s future does not depend on Musk. 33 Percent even call his tweets “annoying”, for 27% they are” entertaining “or” unfair ” (22 percent). 28% don’t care. And 52% of respondents want a government that stops people like Musk from manipulating the markets.
You can view the entire survey here.
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