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Yay or nay? New petition demands Elon Musk sell all his Bitcoin

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Tesla and SpaceX CEO and self-proclaimed “Dogefather” Elon Musk ought to sell his Bitcoin holdings, stated hodlers.

A brand new petition on Change.org is at present gathering signatures to make Musk divest himself of his private stash of Bitcoin (BTC).

“Elon Musk: Sell your Bitcoin”

Its purpose is modest:100 signatures at first, of which a grand whole of 62 have already been gathered. For the creator of the petition, nonetheless, billionaire Musk has touched a nerve.

“Elon Musk has collected at the very least $1.5bn of bitcoin on the Tesla stability sheet, and really doubtless has a bigger private holding he has not revealed,” its description begins.

“In the meantime, Musk has doubled down on endorsing dogecoin, a literal joke, claiming to be working with the nonexistent growth crew and mooting integrating the cryptocurrency into SpaceX.”

Musk is at present on the middle of furor over his professed love of meme-based altcoin Dogecoin (DOGE), which he has championed whereas criticizing Bitcoin.

The affect on each cryptocurrencies ended up being unfavourable this weekend as BTC/USD fell to close $42,000 and noticed its market dominance drop to three-year lows.

BTC/USD 1-hour candle chart (Bitstamp). Supply: Tradingview

Reactions pinned the blame firmly on “Technoking” Musk, whereas some seasoned analysts argued that his actions would find yourself being inconsequential within the face of the general bullish Bitcoin value trajectory.

Till he sells his BTC, nonetheless, there might be a chance for Musk to affect market sentiment unfairly to the detriment of each different hodler,  the petition claims.

“He ought to sell his bitcoin, and hope it all finally ends up with a greater custodian,” it continues.

“If poetic justice prevails, that may simply find yourself being any person he was on the cusp of ruining over doge. Elon Musk: sell your bitcoin.”

Odds are on for $100,000

As Cointelegraph reported, one other gauge of buyers’ emotions on the way forward for Bitcoin in mild of current occasions is extra hopeful. A survey by Inventory-to-Circulation value mannequin creator PlanB exhibits that the majority see BTC/USD hitting $100,000 in 2021.

On the time of writing, over 70,000 responses have confirmed that $100,000 is an inexpensive value goal, with solely 25% believing that the biggest cryptocurrency will peak decrease. 

PlanB’s Bitcoin value survey. Supply: PlanB/Twitter

PlanB himself got here out preventing in opposition to Musk, calling his actions an try and “destroy” Bitcoin.

“If you wish to make a press release, promoting your Tesla inventory and shopping for Bitcoin as an alternative may very well be very efficient IMO,” he advised Twitter followers.

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