2024-02-10 11:07:09
VanEck, a digital asset consultant, pointed out the strong similarities between Bitcoin and companies owned or run by Elon Musk.
Elon Musk’s recent X tweet drew an enthusiastic response from the cryptocurrency community. Among the respondents was Gabor Gurbacs, digital asset strategist at VanEck and Tether, who highlighted an interesting similarity.
Elon Musk’s companies and Bitcoin, what do they have in common?
Tech mogul Elon Musk posted an ironic tweet regarding the fact that the media had already reported countless times that one of his companies was on the verge of collapse. The billionaire responded by noting that if he got a dollar for every single time this happened, then “you should never raise money”.
Gabor Gurbacs in his answer Musk compared his companies to Bitcoin, citing a website that tracks the number of times the mainstream media has declared Bitcoin dead BTC Price .
Same with Bitcoin. It has a dedicated obituaries site tracking when MSM declared Bitcoin dead. 475 Bitcoin obituaries so far. You should start tracking your cos!https://t.co/GpBq0rn7tkhttps://t.co/VdfRRwrSBi
— Gabor Gurbacs (@gaborgurbacs) February 7, 2024
The website currently has 475 Bitcoin obituaries. Gurbacs suggested the tech mogul create a similar online tracker for the public.
The parallel is also notable because, like Bitcoin, Musk’s companies have shown remarkable resilience and adaptability despite changing market conditions and often hostile media attention.
Still, the two subjects of comparison are extremely divisive, given the number and strength of negative predictions and skeptical voices. All of this can be partially traced back to the fear of technological development and progress. Innovations challenge existing systems and require change, which is often associated with uncertainty and challenge.
That may be why, while many see Musk as a tech messiah, others doubt his ideas and his long-term success. It’s the same with Bitcoin. Many people believe in it, while others don’t see its point at all. But as history has shown many times, progress cannot be stopped. Evidence of this is growing mainstream and institutional acceptance, despite the many difficulties of recent years.
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