NEW DELHI : Crypto veterans and industry experts pushed back against billionaire Elon Musk’s recent tweets about cryptocurrencies. Musk, the CEO of Tesla and SpaceX, has faced criticism from various experts over the past week and has even been accused of not understanding cryptos enough before making comments. However, Tesla went back on that promise last week, citing environmental concerns around the use of fossil fuels for generating the electricity needed for crypto mining. “Most of the things Musk has said have been proved wrong," said a senior executive of one of India’s top crypto exchanges. The executive quoted above also noted that Musk’s tweets also give whales, people who hold large amounts of crypto, a chance to take advantage of the market.

Source: Mint May 18, 2021 18:02 UTC