Hackers target Musk for his changing stand on cryptocurrency

Tesla CEO Elon Musk has come under criticism from a group of hackers for the power he wields over the cryptocurrency markets. The grpup said Musk suffers from a “superiority complex”, reported TMZ.

The hackers’ group posted a video recently, accusing Musk of committing some of the biggest digital scams in recent years and yet projecting himself as a friend of the common man. The hackers wrote a grief note saying the billionaire is hurting working-class people and their prospects by his constant trolling of cryptocurrency. “Elon is not a friend to the common man,” it said.

The post said Musk has become arrogant towards cryptocurrencies, especially Bitcoin. A few days back, Musk had declared that Tesla will not accept Bitcoin as a mode of payment for its cars. The Tesla chief said he is doing so because of the “huge environmental impact of using cryptocurrency”. However, contradicting himself, he said he will continue to support Bitcoin.

Also read: Why the market for Bitcoin and other cryptos is teetering so violently

The hackers fell short of calling Musk a hypocrite when they alleged that even though Musk has “positioned himself as concerned about the environment with Tesla’s pivot away from Bitcoin, he doesn’t practice what he preaches within the company itself”.

Earlier, when Musk had said Tesla would accept Bitcoin as a form of payment for its electric vehicles (EV) starting March, the cryptocurrency received a lot of attention and its price went up.  However, after he withdrew the payment option, Bitcoin slid by 10%.

Several people who follow Musk on social media have openly criticised him for aggressively promoting cryptocurrencies. The virtual currencies are already volatile and Musk’s support and opposition have impacted their staility.

Meanwhile, Musk has been hyping another cryptocurrency, Dogecoin, which he has not invested in. The currency’s value fell after he called it a ‘hustle’ during a TV show.

The hackers also made the attack on Musk personal by saying the Tesla CEO suffers from a “superiority complex” because he once called himself the ‘Emperor of Mars’.