Anonymous Group threatening Elon Musk: Anonymous Hacker Group warned Elon Musk for Fluctuating Cryptocurrency’s price through his Tweets. Elon Musk is one of the toppest Billionaires in the world. He always is in news regarding sustainable innovations of space explorations, sustainable energy, and Automobiles. There is also another field in which Elon Musk is always active in news and that is Cryptocurrency. Due to cryptocurrency, there are many debates that happen between Elon Musk and global Crypto investors. Many ethical questions have been raised against Elon Musk by global investors regarding crypto manipulations.
There is a weird relationship between Elon Musk and Cryptocurrency. Some people say it Love and Hate relationship. Previously, he was loving cryptocurrency, and after it becomes harmful to the environment in his sight. This is also important to know that with every single Tweet on cryptocurrency, the price of cryptocurrency started fluctuating. There is global debate on this matter. This happens because Elon Musk is an influencer person and for 3 years, he is doing Tweets on cryptocurrencies like Bitcoin and Dogecoin. Due to these Tweets, cryptocurrencies are getting impacted. His positive leads to a Bullish trend in the crypto market and his negative tweets lead to a Bearish fall in the crypto market.
Why the social activities of Elon Musk is very important? Why due to his every tweet, share market started fluctuating? To know this in detail, let us discuss who is Elon Musk.
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Who is Elon Musk?
Elon Musk was born in South Africa in 1971 AD. He is an American industrial engineer and an Entrepreneur who is a founder of SpaceX, a private space agency. Elon is also co-founder of PayPal which is a payment gateway. Elon invested in Tesla Motors and now he is Chief Executive Officer of it. He was passionate about the computer from his childhood days. Musk also developed a video game at the age of 12 years from which he gained fame and fortune. He has done his graduation from Stanford University and started many successful firms.
Elon Musk founded his first company Zip2 in 1997 AD. In 1999 AD, Compaq bought this company from Elon Musk. Then, Elon Musk created X.com which got merged with Paypal. PayPal was bought by eBay in 2002 AD for $1.5 Billion. Further, Elon Musk founded his private space agency SpaceX in 2002 AD.
Since 2002, his private space agency SpaceX achieved many more achievements and Milestones. Elon also heavily invested in Tesla Motors in 2004. The growth of Tesla Motors leads him to be a Billionaire. He has done many more achievements in space explorations and has done many risky works. Due to these achievements, Elon Musk is a very famous Billionaire and Influencer in today’s world. This is the reason why his tweets impact the global share market.
What is Bitcoin?
Bitcoin is a Cryptocurrency that runs on Blockchain technology. Blockchain is the technology in which the data of transactions are stored in blocks. Each block is connected with another making a chain which is known as Blockchain. This blockchain technology is very secure. The copy of data of every block is stored in another block and if someone will change the data of any block then he/she has to also change the data of that block which contains the data of the block which data was changed by he/she. In the same way, they have to change the data of each and every block in Blockchain which is almost impossible to do. In this way, Blockchain is a very secure technology to store any type of data. The current price of Bitcoin is $35,425. The total price of Bitcoin that will ever exist is 21 Million. No one knows who is the inventor of Bitcoin. It was supposed that Bitcoin is invented by a person named Satoshi Nakamoto. But it still not confirm.
How Elon Musk’s Tweet Leads to the Fluctuation of Cryptocurrencies?
The relationship between Elon Musk and Cryptocurrency was started in 2017. On 28 November 2017, He refused a claim of one of the employees of Tesla Motors that Musk is the actual inventor of Bitcoin Satoshi Nakamoto.
February 9, 2021, Elon Musk tweeted and before this tweet, the price of Bitcoin was $55,320 and after the tweet, the price dropped to $44,474 at the end of February. The screenshot of the tweet of Elon Musk’s Twitter handle is given below.
On 13 March 2021, He tweeted on Bitcoin. This time the price of Bitcoin before this tweet was $61,492 and after he tweeted a strong fall happen in Bitcoin’s Price. The price of Bitcoin dropped to $54,923 on 24 March 2021. This happened in 11 days. The screenshot of the tweet of Elon Musk’s Twitter handle is given below.
Again on 24 March 2021, the reason for the increase in the price of Bitcoin was the second tweet of Elon Musk on Bitcoin. In that tweet, Elon Musk tweeted that Tesla will now accept Bitcoin and people can buy Tesla cars with Bitcoin. After this tweet, the Bitcoin price increased to $52,000 on 25 March. The price of Bitcoin touched $63,334 in April.
On 13 May 2021, Musk tweeted again and said that Tesla will not accept Bitcoin because it harm to the environment and we do not accept it because we only encourage sustainable development. The price of Bitcoin was $48,884 before this tweet. The price of bitcoin fell heavily after this tweet. Currently, the price of Bitcoin is $37,240.
Elon Musk’s Tweet Impact on Dogecoin
Bitcoin is in the public domain for 12 years but Dogecoin is the cryptocurrency which had started as fun in 2013 AD. The tweets of Elon Musk also directly impact Dogecoin. Dogecoin is based on an old internet meme which is the photo of a Japanese Dog of a person named “Shiba Inu”. The tweets by Elon Musk in Dogecoin have affected the price of this Cryptocurrency. The screenshots of the tweets and their effects on the price are shown in graphs screenshots which have given below.
From the screenshots of the tweets and the price fluctuation graph, it is clear that the tweets of Elon Musk have straightly impact Dogecoin Price.
By watching these manipulations of the price of cryptocurrencies, a hacking group has released a video on 5 June 2021 saying that they are from Anonymous Group which is the world’s biggest hacking group. And they are warning Elon Musk for his tweets through which the price of cryptocurrencies is fluctuating. One before releasing this video, that is on 4 June, Elon Musk had tweeted “Bitcoin” with a heartbroken emoji. You can see the screenshot of the tweet from Elon Musk’s Twitter handle below.
With this tweet of Elon Musk, the values of cryptocurrencies like Bitcoin, Dogecoin and Ether decreased on Friday. In comparison to Thursday’s price, Bitcoin lost its value by 4%, and in the same way Dogecoin and Ether value lost by 4.7% and 4.2% respectively.
By releasing the video, the hacker group has told that due to the fluctuations of the crypto price which happens due to Elon’s tweet, it has harmed many people’s lifes but Elon doesn’t care about that.
What is Anonymous Group?
Anonymous Group is a group formed on the internet which has some ethical agenda. They utilize their hacking skills for the welfare of the public. No one knows who is behind this. Anonymous group was formed 12 years ago and still, it exists.
Yet it is not confirmed that the video is released by Anonymous Group. According to Fobes, several known Anonymous groups on Twitter have refused to take the responsibility of releasing this video. You can watch the video below.
Conclusion
The Graphs and Twitter research show a co-relation between Elon Musk’s tweets and Cryptocurrency Fluctuations. But the question is “Can cryptocurrency prove to be a dependent currency?”. Economically, conventional currency also fluctuates because global trade equations change due to many Geo-Political reasons. But, there is no drastic change in them. Crises come once in a decade. Have you ever listen that an official currency rising or falling on any influencer’s tweet? The governments don’t allow cryptocurrency because it is illegal according to them. Cryptocurrency is claimed as an untraceable and stable form of currency. Then how tweets or comments of any influencer this much fluctuate the price of cryptocurrency? There are many questions like this that are most likely to be resolved in the future. If you are also thinking to invest in cryptocurrency then before investing must do your thrrow homework.
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