While Bitcoin Was Falling, Elon Musk Teased A DeFi Entry

Tesla and SpaceX CEO, Elon Musk, who has also recently gained notoriety for his support for the meme-inspired dogecoin and his company's big bitcoin purchase, has made another tweet that suggests he might do the same for the Defi market.

Musk teased his interest in the biggest success story from the crypto space in 2020 when he tweeted "Don't defy DeFi" earlier today, neither giving any further explanation to his statement nor stating any clear intentions.

DeFi,  is a contraction of “decentralized finance,” a general term for an array of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

Don’t defy DeFi

— Elon Musk (@elonmusk) March 25, 2021

The self-acclaimed "Technoking of Tesla" later followed up the tweet with a joke saying "if there's ever a scandal about me, *please* call it Elongate." 

READ ALSO: Elon Musk Confident About Facing SEC Probe For Dogecoin Tweets

If there’s ever a scandal about me, *please* call it Elongate

— Elon Musk (@elonmusk) March 25, 2021

Elon Musk is undoubtedly one of the most interesting people involved with cryptocurrencies. Apart from being one of the richest men in the whole world, he’s also eccentric and unorthodox in the way he communicates with his massive Twitter following and with media in general.

Meanwhile, bitcoin, after spiking from the announcement that Tesla now accepts bitcoin payments, was down more than 10 percent today, breaking below $51,000 for the first time since March 8, according to data from Coindesk.