The richest man on Earth and the CEO of Tesla, Elon Musk, has taken to Twitter to criticize this crypto wallet app, posting two tweets slamming this cryptocurrency platform.
Musk first tweeted:
Your app sucks.
In the next tweet, he explained the reason for this harsh criticism, stating that the wallet does not allow its users to have their private keys, referring to the issue often cited by Crypto Twitter about centralized digital exchanges: not your keys, not your crypto/Bitcoin.
Any crypto wallet that won't give you your private keys should be avoided at all costs.
Here is what the FAQ section of their website says regarding private keys.
These tweets by Musk came as a response to a tweet by the wallet's team, which tried to promote its app using Musk's name and his love for Dogecoin.
Earlier this week, Tesla announced its acquisition of a staggering $1.5 billion worth of Bitcoin added to its balance sheet.
This sent the price of the flagship crypto first to its all-time high of $44,000, and the following day BTC hit $48,000.