Earlier this year, Elon Musk was hailed as a crypto hero after Tesla bought Bitcoin for $1.5 billion. But according to sentiment tracking firm Awario, public opinion has swung the other way.
This change of heart comes after Musk announced that Tesla will no longer accept Bitcoin as a means of payment for its vehicles. Many considered this an attack on the leading cryptocurrency. Therefore, it is not surprising that the attitude towards the eccentric billionaire has sunk to a new low. But how bad has it become?
Data from Awario shows that tweets with a positive opinion about Musk hit a new low last month. This corresponded with his U-turn on Bitcoin and the subsequent crash in the price.
At the beginning of this year, the tweets for and against Musk were numerically in balance. But in May, the ratio of positive to negative sentiment fell by about a quarter, reaching its lowest level since October 2020, when Awario began tracking this metric.
Back then, neutral tweets about Musk formed the largest category, accounting for 66% of tweets. Negative tweets followed with 19.2%, and positive tweets came in last with 14.9%. Ross Gerber, the CEO of investment firm Gerber Kawasaki, warned in his comment that it was a risky strategy for Musk to manipulate the markets and play with people’s money.
I think it’s a very dangerous area for Elon to go into if he’s going to inflict losses on people like he did the other day and it’s going to turn people against him and ultimately against Tesla.
Okung urges Musk to stay in his lane
Gerber wasn’t the only one to give Musk some advice. Former Carolina Panthers offensive tackle Russell Okung launched a poster campaign with himself recommending Musk stay out of Bitcoin and focus on space instead.
The campaign will run for two weeks in Miami, Florida, coinciding with the Bitcoin 2021 conference taking place in Miami. As well as on mobile billboards around SpaceX’s launch site in Texas, and a Tesla facility in California.
Okung hit the headlines last year when he chose to receive half of his $ 13 million salary in Bitcoin. The NFL pays all players only in US dollars, but Okung’s arrangement became possible thanks to the crypto payment startup Strike, formerly Zap.
Text credit: cryptoslate