According to the latest reports, Elon Musk is facing a lot of heat from the entire cryptocurrency industry as well as many institutional investors. Many claims that Elon Musk, the CEO of Tesla has a lot of influence in the overall markets, and the cryptocurrency market is no different.
As Elon Musk is all about technology, every statement he makes mainly through his Twitter profile is taken as a prophecy for the investors and tech-savvies. This is the reason why Elon Musk has caused a huge impact on the entire cryptocurrency industry.
Although Elon Musk hardly ever talked about cryptocurrencies, he started making his presence known starting in 2021. The first time he talked about cryptocurrencies was back in early 2021 when he started making comments around Dogecoin (DOGE).
From that point onwards, whenever he talked about Dogecoin (DOGE), it ended up being a rally. Elon Musk is the major reason why Dogecoin (DOGE) went on from being a meme coin to a financial coin. As of now, major cryptocurrency exchanges adopting Dogecoin (DOGE) and it is also being adopted as a payment method.
However, Elon Musk did not make a stop at Dogecoin (DOGE), as he continued with his streak of crypto-pro tweets through his Twitter profile. He and his company, Tesla even continued with their threads around Dogecoin (DOGE) and Bitcoin (BTC), constantly causing an impact over the currencies.
Now, Elon Musk is being criticized by the cryptocurrency community as well as the institutional personalities for influencing the crypto-verse.
One of the latest additions Elon Musk has made to his tweets influencing cryptocurrencies is the one where he mentioned names of three countries.
It was last Friday when Elon Musk posted a tweet that listed three countries. The first country on the top of the list was Canada, the second one was the USA, and the last one was Mexico. While the majority of his followers considered it a teaser from Musk, some observers ended up paying too much attention to it.
According to a certain group of observers, the alignment of the three-country names had something to do with their first letters. Therefore, the observers stated that by the tweet; Canada, USA, Mexico, Elon Musk meant CUM.
For the observers, it was yet another signal from Elon Musk to invest in the cryptocurrency called “CumRocket (CUMMIES)”. By many in the cryptocurrency industry, CumRocket is considered a revolutionary token for deflation. These tokens are meant to be used by adult film industry users.
Within hours of being posted, the price of CumRocket experienced a 366% increase and its price shot from $0.06 to $0.28. Now the entire cryptocurrency industry is blaming Elon Musk for manipulating the market and causing ripples in it with his influence.