Ever since crypto gained mass popularity, there hasn’t been a dull moment in the crypto world. This week’s events are particularly buzzy, ranging from the latest Musk-related impact on the Bitcoin price, the 2021 Bitcoin Conference, to the massive loan taken by MicroStrategy from crypto investing. These events hit the headlines hard and will possibly influence the crypto market, and subsequently, your crypto wallet.
Elon Musk breaks up with Bitcoin
SpaceX and Tesla CEO Elon Musk has been stirring up trouble on Twitter ever since he realized that he could, ironically, heavily influence space – crypto space. On Thursday, he made a tweet that shows a couple breaking up, to which he added the hashtag #Bitcoin and a broken heart emoji. The following day, Bitcoin’s price fell. Not many can impact a large market like crypto with a single meme, such as Musk can.
Shock waves followed, with strong, upsetting reactions from many – especially the hacker group Anonymous. A video surfaced linked to an account that claims to be Anonymous and that contains a depictive message to Musk. It made claims about Musk destroying the lives of many investors that had their hard work liquidate in the digital coin form, with his public Twitter tantrums.
This well-rehearsed move isn’t new to Musk at all, as we’ve mentioned before. Billionaire entrepreneur frequently uses Twitter to change the market deliberately, or so it seems. In recent weeks, Musk was showing a specifically negative attitude towards Bitcoin, even though his company obtained a large number of digital coins earlier this year, along with making it a valid payment option in Tesla. In May, he made a contradictory statement – he said that Tesla would stop accepting payments in Bitcoin due to the concerning effects of mining on the environment.
The Bitcoin Conference 2021
The Bitcoin Conference for the ongoing year finally took place in Miami, Florida, and lasted two days. More than 50k people from all over the world attended the event, along with huge names, like Jack Dorsey (Twitter and Square CEO). Many things went down at the conference, including some harsh words pointed at Musk and a Dogecoin supporter crashing one of the panels only to rip open his suit and reveal the infamous meme-inspired Shiba logo. Another exciting event occurred when boxing champion Floyd Mayweather experienced a harsh reaction from the crowd while complimenting ethereummax; all in all, a fairly eventful crypto conference.
MicroStrategy borrows $400 million to buy Bitcoin
Last but not least, software company MicroStrategy announced its plans to offer over $400 million senior secured bonds to obtain more Bitcoin. The company’s CEO Michael Saylor is one of the leading advocates and Bitcoin supporters. The company owns billions of dollars worth of Bitcoin, which reflects Saylor’s belief in the value of this digital coin.
MicroStrategy’s current Bitcoin count, approximately 92,079 coins, will be taken by a subsidiary named MacroStrategy LLC. The intention is to use proceeds from the sale of notes to get more Bitcoin and feed this Bitcoin-hungry whale.