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Elon Musk Calls Out Cryptocurrency Scammers While Michael Burry Says Bitcoin Is Speculative Bubble

Tue, 03/02/2021 - 19:40
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Alex Dovbnya
Elon Musk says scammers and crypto "should get a room" while the "Big Short" hero talks Bitcoin and central banks
Elon Musk Calls Out Cryptocurrency Scammers While Michael Burry Says Bitcoin Is Speculative Bubble
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Tesla CEO Elon Musk remains true to his character by taking to Twitter to post another questionable tweet about cryptocurrencies, making the entire community scratch their heads. 

The billionaire says scammers and crypto "should get a room," pointing to some sort of affectionate behavior or amorous activities between the two. 

While some suggested that Musk might have lost his Dogecoin, the Tesla CEO is most likely referring to cryptocurrency bots that are flooding his replies with fraudulent cryptocurrency offerings.       

Trader Scott Melker jokingly notes these bots are now interacting with each other:    

The scam bots are now taking over people’s accounts and interacting with one another. Skynet.

Musk's early mentions of crypto were related to his predicament with fraudulent Twitter accounts. Back in July 2018, he called the attention of his followers to Ethereum scam bots:       

I want to know who is running the Etherium scambots! Mad skillz.

Last July, Musk, Bill Gates, and plenty of prominent Twitter users had their accounts hijacked to promote a Bitcoin scam.     

Michael Burry remains skeptical of Bitcoin 

Meanwhile, famed American investor Michael Burry recently stated that Bitcoin poses "more risk than opportunities" in a recent tweet

BTC is a speculative bubble that poses more risk than opportunity despite most of the proponents being correct in their arguments for why it is relevant at this point in history, If you do not know how much leverage is involved in the run-up, you may not know enough to own it.     

According to the "Big Short" hero, the big question is whether or not central banks will actually embrace Bitcoin:

Regarding BTC, will central banks ever use it as a store of value, or will they be compelled to handicap it and relegate it to niche status like so many promissory notes? Long-term, this is what matters in a world of centralized, powerful, violent and ruthless governments.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at