Elon Musk is a 'tourist' in the cryptocurrency market, says CEO

SpaceX and Tesla CEO Elon Musk has been called a 'tourist' by a prominent CEO of a centralized cryptocurrency lending platform.

@Jak_ConnorTT
Published Mon, Jun 28 2021 4:06 AM CDT   |   Updated Mon, Jul 26 2021 5:04 AM CDT

Elon Musk has been a center point for the cryptocurrency market for some time now, and after the events of Tesla accepting and then denying Bitcoin as payment for its electric vehicles, some people have questioned Musk's motives for being involved in the cryptocurrency market.

One individual who has questioned Musk's motives is CEO Alex Mashinsky, the head of a centralized cryptocurrency lending platform called Celsius. Mashinsky says that Musk isn't helping the cryptocurrency community and suggests that he is manipulating the market by saying that he is a "tourist" that visits and leaves the the land of cryptocurrencies.

Additionally, Mashinsky says that Musk is the one benefiting from accepting Bitcoin as payment for its vehicles and not the person doing the purchasing. Here's what Mashinsky said, "If the richest guy in the world is willing to exchange a Bitcoin for a Tesla, you have to ask yourself, who is getting the good deal? The minute you buy that Tesla, it's worth less than what you paid for it, but Bitcoin is going to continue to increase in value. So that transaction is good for Elon, but it's not good for you."

If you are interested in reading more about this story, check out this link here.

Elon Musk is a 'tourist' in the cryptocurrency market, says CEO 01 | TweakTown.com
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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