Earlier this year, Elon Musk was considered a crypto hero following Teslas $1.5 billion Bitcoin buy. But according to sentiment tracking firm Awario, public opinion has since swung the other way.
This change of heart comes following Musks announcement that Tesla would no longer accept Bitcoin as payment for its vehicles. The now infamous tweet gave an environmental justification for the action.
Many considered this as an attack on the leading cryptocurrency. As such, its not surprising that attitudes towards the eccentric billionaire have sunk to a new low. But just how bad has it become？
Awarios findings
Data from Awario shows tweets of a positive opinion on Musk reached a new low last month. This corresponded with his U-turn on Bitcoin and the subsequent crash in its price.
At the start of this year, tweets in favor and against Musk were level pegging in number. But by May, the ratio of positive-to-negative sentiment dipped by about a quarter hitting its lowest proportion since October 2020, which was when Awario first began tracking this metric.
Back then, neutral tweets about Musk formed the biggest category, accounting for 66% of tweets. This was followed by negative tweets at 19.2%, and positive tweets bringing up the rear at 14.9%.
Commenting on the situation, Ross Gerber, the CEO of investment firm Gerber Kawasaki, warned that manipulating markets and playing with peoples money is a risky strategy for Musk to take.
“But I think it‘s a very dangerous area for Elon to get in when he’s causing people losses like he did the other day and it turns people against him and ultimately Tesla,” he said.
Okung tells Musk to stay in his lane
Gerber wasnt the only one to offer Musk advice. Former offensive tackle for the Carolina Panthers, Russell Okung launched a billboard campaign featuring himself, suggesting Musk keep out of Bitcoin and focus on space instead.
The campaign will run for two weeks in Miami, Florida to coincide with the Bitcoin 2021 conference being held in the city. As well as on mobile billboards around SpaceXs launch site in Texas, and a Tesla facility in California.
The press release accompanying the campaign said this was a “gentle reminder to the public” that Musk is relatively green to cryptocurrency and should not be considered an authority on the topic.
IMAGE: ZEPHYRNET.
Okung hit the headlines last year when he opted to receive half his $13 million salary in Bitcoin.
The NFL pays all players in U.S dollars only, but Okungs arrangement was made possible thanks to crypto payment startup Strike, formerly Zap, who converted into Bitcoin on his behalf.