The person who is most influential in the crypto money markets with his tweets is undoubtedly Elon Musk! However, this time the effect was in the opposite direction.. After Musk’s tweet, there was a serious correction in Bitcoin and crypto money markets.
Which crypto currency will Elon Musk prefer instead of Bitcoin?
Elon Musk recently announced that Tesla will accept Bitcoin as a means of payment. After this development, there was a significant increase in Bitcoin prices.. On April 14, Bitcoin broke the all-time record by exceeding $ 64 thousand. The role of Tesla and Elon Musk in this record is undeniable.
However, Tesla recently announced that they cannot use Bitcoin as a payment tool, drawing attention to the high energy savings of Bitcoin.. Environmentally friendly Tesla claims Bitcoin is an environmentally damaging payment tool. After this decision, Bitcoin prices fell to the band of 45 thousand dollars.. At the time of writing, BTC is trading over 51K.
It is estimated that Tesla, which produces the environmentally friendly technology of the future, will not give up on the blockchain, the payment system of the future.. The main concern of crypto money investors is Which crypto currency will Tesla prefer instead of Bitcoin?
Three candidates stand out. The first is Dogecoin, which everyone predicted! Two other strong candidates are XRP and ADA.
One of Investing’s expert analysts, Jesse Cohen, claims that Tesla and Elon Musk may be on a quest.. Except for Doge, he draws attention to 2 strong alternatives: Ripple (XRP) and Cardano (ADA). Both these cryptocurrencies consume less than 1% of the energy that Bitcoin consumes.. Ethereum is not on the list due to its high transfer cost.
Please See: Cardano (ADA) is unaffected, its markets are on fire! Why?
Cardano’s CEO Charles Hoskinson is open to Elon Musk in the following tweet after Tesla removed Bitcoin from its list of payment instruments sent an invitation. He asked for some kind of appointment.
@elonmusk are we finally going to have the Cardano conversation? Come to my farm in Longmont with Kimbal. Got sweet tea and minidonkeys
— Charles Hoskinson (@IOHK_Charles) May 13, 2021
Cardano is the fastest blockchain after a series of updates ranks first in the. While the crypto money markets turned into a bloodbath on May 12-13, Cardano enjoyed breaking the all-time record with $ 1.96.
XRP also stands as a serious alternative.. But the SEC lawsuit slightly dampens XRP’s chances.