The costs of Bitcoin and cryptocurrencies had an unenviable September, suffering to make a profit or even stand firm.
The value of bitcoin has lost almost 10% in the last 30 days, as the latest crackdown on cryptocurrencies in China has undermined the enthusiasm of many bitcoin and cryptocurrency traders.
Now, Tesla CEO Elon Musk, one of the biggest drivers of bitcoin’s value this year, has warned that he doesn’t believe cryptocurrencies are “the time when the Messiah is coming,” adding that it’s “possible for governments to slow [bitcoin and the advancement of cryptography. “
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Musk, speaking to New York Times columnist Kara Swisher at the same level at the California Code Conference, said the U. S. government has been speaking at the California Code Conference. USA He deserves not to check the cryptocurrency market, and told lawmakers and regulators that they deserve to “do nothing. “
“Let it fly,” Musk said. There is some price on cryptocurrencies, but I don’t think it’s the time when the messiah arrives. This will reduce error and latency in legacy financial systems. “
Governments around the world have stepped up their scrutiny of the nascent area of bitcoins and cryptocurrencies in recent months, responding to rising costs and developing interest in the technology. Securities and Exchange Commission Chairman Gary Gensler has been called upon to keep an eye on the market and said he needs to protect investors more.
However, Musk downplayed the influence governments can have on bitcoin and cryptocurrencies, saying he believes “it’s not imaginable that Array . . . destroy cryptocurrencies, but it is conceivable that governments would slow their progress. “
Meanwhile, last week, China stepped up a crackdown on cryptocurrencies that began in May, noting that all cryptocurrency transactions are illegal and prohibiting currency exchanges from offering facilities to Chinese residents. in exchange for newly minted coins in the country, which has caused the value of bitcoin and a wider cryptocurrency market to plummet.
“It seems that [the Chinese government doesn’t like] cryptocurrencies,” Musk said. “I guess cryptocurrencies are about cutting off the strength of centralized government and they don’t like that, I guess. “
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Earlier this year, Tesla revealed that it had bought $1. 5 billion in bitcoins, the maximum of which remains on its balance sheet. Musk also announced and then suspended Tesla’s bitcoin payment due to Bitcoin’s tempting power demands.
Since then, Musk has followed the meme-based dogecoin cryptocurrency as his favorite project, asking developers to update it and proposing that the memecoin paints with the largest cryptocurrency of the moment after bitcoin, ethereum, to “beat bitcoin indisputably. “
Musk’s comments about Bitcoin and Cryptocurrency founded on Twitter cause Bitcoin’s value to move, however, he has recently reduced his crypto interventions on Twitter.
“I don’t tweet much about cryptocurrencies,” Musk told Swisher, weighing in on a popular story related to cryptocurrencies this week.
“The hamster has crazy skills,” Musk tweeted this week in reaction to M’s viral hit. Goxx, the cryptocurrency trading hamster that he has controlled to outperform many human investors.
I am a journalist with great delight in covering technology, finance, economics and business around the world. As the founding editor of Verdict. co. uk, I reported