I guess I'm not all that surprised. I can also say that Elon probably has brought this on himself.
Unless you've been hiding under a rock, you know that when he tweets, he's able to move prices way up or way down. This is just too much power for any one individual.
And I can see why a lot of people in the crypto market think that Elon Musk's outsized influence is a problem.
Personally, though, I think he has a lot more things to worry about when it comes to regulators.
There's a lot of hype about Tesla, but in reality, a lot of the money that it makes is because of government regulations.
One could argue that Tesla is only "a good investment because it's propped up by all sorts of laws and special legislation."
Take that away and force that company to compete head-to-head in the market without any props or special assistance, it's an open guess whether it will stay alive.
So there's a lot of hype behind Tesla, and I think this recent move by the group Anonymous reflects some of that misgivings as well.
So it's kind of like the perfect storm that's happening.
The funny thing about Elon Musk boosting Bitcoin is that he is a loose cannon. You don't know where he's headed next.
And given the way financial markets work, if certain trends combine and there's a spark that puts everything together, it might mean extreme volatility, to say the least.
So I can't say I'm surprised that Anonymous is threatening Musk because of his outsized influence on the crypto market.
