Friday, February 3

Elon Musk: the weather vane of cryptocurrencies, our character of the year 2021


In the obligatory balance of the year, there are many protagonists, but at the Blockchain Observatory we have chosen Elon Musk character of 2021, whom we have baptized as the «cryptocurrency weather vane». With more than 68 million followers on Twitter, its audience capital is similar to its economic capital.

Buterin, Andreessen, McAffee or Bukele

Vitalik Buterin has remained there, quietly, between the quiet and expectant work on improving the Ethereum blockchain and managing the token capital that comes from being the main heir to Shatoshi Nakamoto. As almost always, in an actively latent state. Marc Andreessen Horowitz embodies the unstoppable advancement of the Blockchain ecosystem and the economics of decentralized finance. This one, unlike the Canadian-Russian origin developer, seems to be present in almost all parts of the block economy where investment is discussed.

Elon Musk’s volatile personality and the volatility of cryptocurrencies

The even more expansive and always surprising McAffee struck us with what, to this day at least, passes to be his suicide. The hacker of the biggest attack in the history of the DeFi industry, voluntarily returned the 600 million USD that had been taken from the Poly Networks platform, calling the crypto world savage. And a young president of a Central American country of just over six million inhabitants, Nayib Bukele in El Salvador, has turned his nation into the great cryptocurrency experiment, making the eyes of the world look forward to the results.

Elon Musk, personaje 2021

But the character that this year has focused many of the discussions in the Blockchain ecosystem is, without a doubt, Elon Musk. His messages on his Twitter account made the prices of some cryptocurrencies become a kind of roller coaster. Thus, it was revealed to us as a kind of weather vane that everyone looked at where it turned. And it is that Musk has a lot of money. A lot of money. But I think his main capital is his millions of followers, attentive to his minimal gestures. This is your main asset.

Elon Musk’s power over cryptocurrencies on Twitter, a case study

God Aeolus

It is a weather vane that seems to indicate the wind towards which cryptocurrencies are blowing. Although he has almost always been favorable to cryptocurrencies, the one who plays the god Aeolus sowing storms is himself. At times, it seemed that winds were blowing with different directions and forces. Thus, he did not hesitate to participate in an institutional campaign warning of the vicinalization of cryptocurrencies with organized crime and the energy expenditure of mining. However, the authorities do not indicate the ability of this man to move the flows of others, based exclusively on his sole will, without passing any filter. Something, by the way, that was one of the arguments of McAffee’s institutional persecutors. Musk’s smile seems like he has the ability to clean everything up.

Bullish rally for Dogecoin after Elon Musk says he will use it to buy products at Tesla

When we learn that his parent company, Tesla, has acquired bitcoins worth more than 1.25 billion dollars, many follow him and make the historic cryptocurrency exceed its all-time highs. After a few days, he seems to change his mind. It is no longer so clear that he will accept bitcoins for the payment of his luxurious cars. Then the prices go down. Now, as in any market, there are those who win and those who lose in following the messages of the millionaire. Then, it is when the latter begin to label their statements and their shadows in the form of sudden rises and falls in prices of different cryptocurrencies as suspicious.

Crypto Industry Charges Elon Musk For His ‘Hypocritical’ Attitude With Bitcoin

Messages that seem half joking. With a permanent smile. Surely, as the title of a popular soap opera said, the rich also cry; but this one will do it in private, because in public the laugh is not erased from his face, even if blows are hit. It has become an icon of an attitude. Beside him, the other crypto protagonists of this year 2021 seem serious or sad, with somewhat forced or bitter smiles. Musk appears as the ever-smiling crafty hero. With the image that the messages he offers, wrapped in wide smiles, are winks that must be heeded, Elon Musk has been, for many, the weather vane that told where the winds of cryptocurrencies were blowing.

Cryptocurrency weather vane 2022

Even among those who consider some of his movements suspicious, Musk will continue to be the cryptocurrency weather vane during the year 2022. The context is one of dense economic uncertainty: global inflation, global pandemic, global supply crisis and climate crisis producing the first large displacements in the world. It is one of those contexts in which trust is more necessary than ever. We always trust out of necessity. A wide and permanent smile, a trajectory of vital and business success, and a bold entrepreneurial attitude seem great attractions when it comes to selecting the nail on which to hang confidence.

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