Bitcoin

“Elon is a Crypto tourist”


Celsius CEO Alex Mashinsky sat live at the Bitcoin 2021 conference in Miami with Yahoo! finance Brief discussion On Celsius, Elon and more. By asking a quick question about Elon’s recent conversation on Twitter, Mashinsky didn’t hesitate to share his opinion.

Crypto Tourist

“Elon is a crypto-tourist,” Mashinsky stated, adding, “He is here to gather followers. I don’t think he is here to make the world a better place, and we can go where we go with or without Elon.”

Bitcoin dropped more than 5% after that Musk’s tweet “breaks up” earlier in the day. The tweet follows a ‘bearish behavior’ around bitcoin from the Tesla CEO. Nearly a month ago, Musk cited coal use as a major concern that led to his decision to pull the plug on allowing bitcoin as a payment method for Tesla customers. A number of cryptocurrency advocates are fed up with Musk’s sentiment, with some suggesting that Musk’s intention may be to manipulate the market.

Mashinsky wasn’t the only crypto advocate who shared this sentiment; Notorious Bitcoin bull Anthony Pompliano said at the conference that “Elon keeps tweeting, Bitcoin price keeps staying lower than it should, giving everyone the chance to buy cheap Bitcoin.”

Related reading | Celsius Network’s CEL Token Listed on OKEx

Celsius tone

Celsius is fresh with news of over $17 billion in assets stored on the platform, as well Hit the new company high in BTC holdings. The company recently surpassed 800,000 retail users. In the interview, Mashinsky noted that banks’ lack of interest rate aggressiveness was a key factor in the success of Percentage. “You can almost 9% more than 100 times what JP Morgan pays you,” Mashinsky said, referring to the many stable APYs we see in revenue-generating markets today. “The percentile is the HODLer community,” Mashinsky added.

Maschinsky said Celsius has raised more than $700 million in interest generated by loans from institutions, with nearly 80% of the return distributed to individual consumers — “that’s the real Robinhood.”

Elon Musk's tweets have been a source of speculation around bitcoin's recent pullbacks. | Source: BTC-USD on TradingView.com

“Future of Finance”

DeFi continues to change the landscape. When asked about Celsius’ competition, Mashinsky said that the competitive advantage for BlockFi and other revenue-generating companies is that it is the only company with five sources of revenue. Part of this revenue-generating machine is a $200 million investment in mining, powered by green energy, according to a recent press release.

As organizations continue to participate, retail growth in the DeFi landscape is likely to continue as well – showing a bright future for Celsius and the broader revenue-generating platforms on the scene.

Related reading | Tag: Bitcoin faces yet another rejection, here’s what could lead to a bad pullback

Featured image from Pixabay, Charts from TradingView.com



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