Yay or nay? New petition demands Elon Musk sells all his Bitcoin

The “Dogefather” has gone too some distance for some Bitcoin hodlers and would possibly perhaps maybe well enable a “better custodian” to hold them instead, acknowledged the petition’s creator.

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Yay or nay? New petition demands Elon Musk sell all his Bitcoin

Tesla and SpaceX CEO and self-proclaimed “Dogefather” Elon Musk must promote his Bitcoin holdings, acknowledged hodlers.

A brand fresh petition on Alternate.org is for the time being gathering signatures to impact Musk divest himself of his deepest stash of Bitcoin (BTC).

“Elon Musk: Promote your Bitcoin”

Its goal is understated: 100 signatures first and significant, of which a spacious complete of 62 possess already been gathered. For the creator of the petition, then all over again, billionaire Musk has touched a nerve.

“Elon Musk has gathered no now now not as much as $1.5bn of bitcoin on the Tesla steadiness sheet, and extremely likely has a bigger deepest maintaining he has now now not printed,” its description begins.

“Within the period in-between, Musk has doubled down on endorsing dogecoin, a literal humorous story, claiming to be working with the nonexistent vogue group and mooting integrating the cryptocurrency into SpaceX.”

Musk is for the time being on the heart of furor over his professed love of meme-basically based mostly altcoin Dogecoin (DOGE), which he has championed while criticizing Bitcoin.

The impact on both cryptocurrencies ended up being unfavorable this weekend as BTC/USD fell to reach $42,000 and saw its market dominance tumble to a number of-365 days lows.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

Reactions pinned the blame firmly on “Technoking” Musk, while some seasoned analysts argued that his actions would discontinue up being inconsequential within the face of the total bullish Bitcoin mark trajectory.

Till he sells his BTC, then all over again, there would possibly perhaps be a likelihood for Musk to persuade market sentiment unfairly to the detriment of every other hodler,  the petition claims.

“He must promote his bitcoin, and hope all of it finally ends up with a better custodian,” it continues.

“If poetic justice prevails, that would possibly perhaps maybe well correct discontinue up being any individual he turned into once on the cusp of ruining over doge. Elon Musk: promote your bitcoin.”

Odds are on for $100,000

As Cointelegraph reported, one more gauge of traders’ feelings on the long trail of Bitcoin in gentle of most up-to-date events is more hopeful. A look by Inventory-to-Drift mark model creator PlanB reveals that most peek BTC/USD hitting $100,000 in 2021.

At the time of writing, over 70,000 responses possess confirmed that $100,000 is a cheap mark target, with greatest 25% believing that the greatest cryptocurrency will peak decrease. 

PlanB’s Bitcoin mark look. Source: PlanB/Twitter

PlanB himself came out battling against Musk, calling his actions an try to “extinguish” Bitcoin.

“At the same time as you happen to’d get to impact a commentary, promoting your Tesla stock and procuring for Bitcoin instead would be very effective IMO,” he advised Twitter followers.

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