Bitcoin Price Steadies After Anonymous Group Threatens Elon Musk

The hacking group Anonymous has issued a threat to Elon Musk, accusing him of liquidating dreams and “destroying lives” with his tweets about cryptocurrencies.

The decentralized group  in a video released on Saturday said that the “carefully curated” image of Elon Musk is getting exposed, and people are “beginning to see [him] as nothing more than another narcissistic rich dude who is desperate for attention.” They shed light on many things people may not know about Musk, including how he treats his employees, harms the environment, where his fortune came from, how Tesla actually makes money, and his attempt to centralize and control bitcoin mining.

 

The largest cryptocurrency's price has held steady at around $36,000 as of report time on Sunday, reaching a breakeven after it had previously dipped below $35,000 from a failed breakout attempt.

With just a few words, memes, emojis, and likes, the world’s third-richest person has sent the value of cryptocurrencies both diving and soaring in recent months – notably with his jocular backing of dogecoin, followed more recently by sobering claims of concern over bitcoin’s environmental impact.

In the latest turn of the saga, the value of bitcoin dropped seven percent on Friday after Musk shared a meme about a breakup on his Twitter page, which some investors took as an indication that his electric vehicle company could intend to sell off its coins, having purchased $1.5bn-worth in February.

The hacking group has now claimed his erratic public dalliance with cryptocurrencies “show a clear disregard for the average working person”.

The group referenced an article in the Observer titled “Elon Musk, Tesla are pushing factory workers to the brink as profits soar.” The article explains that “Tesla workers and worker advocates say the company is risking the health and safety of its workers in relentless pursuit of these gaudy numbers.”

According to a Forbes report, much of Tesla’s seven-quarter profit streak came from the billions of dollars it hauled in from selling carbon tax credits to makers of gasoline-powered autos that need them to meet pollution rules of the US and the European Union. The report further suggested that the electric vehicle and clean energy company based in Palo Alto, California, reported cumulative credit sales worth $4.4 billion, with $2.69 billion of that coming just since 2019.

Suggesting that Musk has “enjoyed one of the most favourable reputations of anyone in the billionaire class” by tapping into the desire many people have to live in a world with electric cars and space exploration, a Guy Fawkes mask-clad member of the hacktivist group described him as the only CEO of such a company to have “gained a cult following through s***posting and trolling the world on social media”