“Elon is a cryptocurrency tourist”
Celsius CEO Alex Mashinsky sat down to live stream financial services at the 2021 Bitcoin Conference in Miami and Yahoo Short discussion Celsius, Elon, etc. Masinski asked a short question in Elon’s latest Twitter chat, and he shared his views without hesitation.
“Elon is a cryptocurrency visitor,” Masinsky said, adding that “He is here to collect followers. I don’t think he’s here to make the world a better place. We can have Elon Or go where we are going without Elon.”
Bitcoin drops more than 5% Musk’s “break up” tweet Earlier in the day. The tweet follows Tesla’s CEO’s “bearish behavior” on Bitcoin. Nearly a month ago, Musk listed the use of coal as a major issue, which led to his decision to stop allowing Bitcoin as a payment method for Tesla customers. Many cryptocurrency advocates are tired of Musk’s emotions, and some believe that Musk’s intention may be to manipulate the market.
Mashinsky is not the only cryptocurrency advocate sharing this view. The notorious Bitcoin bull Anthony’Pomp’ Pompliano stated at the conference, “Elon continues to tweet, and the price of Bitcoin continues to remain below expectations, which gives all civilians the opportunity to buy cheap Bitcoin.”
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Celsius has newly learned that the assets stored on the platform exceed $17B, and Set a new high for the company Among BTC holdings. The company recently passed 800,000 retail users. In the interview, Masinsky pointed out that the bank’s lack of positive interest rates was a major factor in Celsius’s success. “You can pay you 9% of nearly 100 times more than JP Morgan Chase pays you,” said Masinsky, who cited many stablecoins APY that appear in today’s yield-generating market. “Celsius is the community of HODLer,” Mashinsky added.
Celsius collected more than $700 million in loan interest from institutions, and about 80% of the proceeds were distributed to retail consumers—”This is the real Robin Hood,” Masinsky said.
Elon Musk's tweets have been a source of speculation around bitcoin's recent pullbacks. | Source: BTC-USD on TradingView.com
“The Future of Finance”
DeFi continues to shock the scene. When asked about competition in Celsius, Masinski said that the competitive advantage over BlockFi and other revenue-generating companies comes down to the only company with five revenue sources. According to a recent press release, part of the production machine is a $200 million investment in the mining industry, powered by green energy.
While institutions continue to participate, the growth of the retail industry may also continue to develop in the DeFi field-which shows the bright prospects of Celsius and a broader revenue-generating platform on site.
Featured image from Pixabay, Charts from TradingView.com