Eyebrows have been raised because of Musk’s influence over cryptocurrency. People have a love-hate relationship with his influence on cryptocurrency. Though most experts believe his influence is not a good thing for cryptocurrency Binance’s US CEO Brian Brooks has a very different view.
In an interview with Bloomberg Quint, he said that whether Elon Musk pushes the market up and down is good for the crypto market and moreover he has freedom of speech so he can really say it. He further went on to say that if Elon Musk is important in crypto then crypto must be important and that short term panic-induced sell-offs are not good for anyone
Bitcoin and most cryptocurrencies had taken a big hit when Elon Musk announced Bitcoin’s break with Tesla due to environmental concerns. Since then there have been increasing concerns about his increasing influence on the market.
The CEO also shed wisdom on the potential of Ethereum in the coming days. He said that Ethereum has huge potential to develop apps that could kill the banks. He also said that he has been investing in crypto himself and said that he believes that people should have the majority of their assets in crypto so that they could be the anchor tenants of history.