Like him or not, Crypto Media cannot ignore Elon Musk

by Arthur · August 1, 2022

The narrative of the cryptocurrency industry is more often misunderstood in the mainstream. From jumping to premature conclusions about market volatility or concluding new projects, the mainstream has more often than not failed to do justice to the cryptocurrency industry. The latest personality to attract attention is the tech giant and proud Dogecoin #dogefather, Elon Musk.

Musk has been in the news lately – talking about SpaceX, Dogecoin, Tesla, Dogecoin, the Twitter acquisition that became a play, and Dogecoin.

Elon Musk’s influence reaches far and wide and is not just limited to cars. However, many have followed Musk’s career and even bet on it from the beginning. Many of them are reaping the rewards, as far as the share price of Tesla Inc. is concerned [TSLA]. Today, when Tesla is trying to transition the world to sustainable energy, there were still many who bought the product, given their faith in Musk.

This prompted Twitter user @WholeMarsBlog to ask his followers,

I’m writing an article about people who have bought a Tesla because they like it @elonmusk

If this describes you, please comment with your thoughts below

— Whole Mars Catalog (@WholeMarsBlog) 31 July 2022

The name invited too many responses, even from Dogecoin creator Billy Markus. Although Markus created DOGE, the community regarded Musk as its so-called “father”. Musk has also taken this title seriously and extended his support to the digital asset and community. Since Musk got involved, Dogecoin’s value has appreciated and the ecosystem has pivoted to make DOGE more usable.

Given the rise of the Dogecoin community and the creator of DOGE, Elon Musk’s following has only increased over time. That’s why the question posed by @WholeMarsBlog prompted Markus jokingly say he wants to dislike Elon just to keep his credibility.

I liked elon musk but then the media started saying bad things and it became popular to dislike him so to keep my credibility I have to dislike him too. I make all my buying decisions based on how much I care about the CEO of a company’s behavior according to the media.

— Shibetoshi Nakamoto (@BillyM2k) 1 August 2022

While the media has played an active role in “breaking the story”, the mainstream received flak due to overt bias and unbalanced reporting. Elon Musk became a target recently when he pulled out of the $44 billion Twitter deal, citing fake accounts and a lack of information about issues offered by the social media platform.

While Markus ironically stated the current fad of liking and disliking people based on the media’s opinion, Elon Musk laughed off the question and quickly jumped in with some points.

Musk tweeted,

The media has a strong negative bias and is driven by clicks (they can’t help it).

Unfortunately, I generate a lot of clicks.

But these things move in cycles.

When readers get tired of putting me down, they’ll build me up.

This cycle has happened so many times…

— Elon Musk (@elonmusk) 1 August 2022

Like him or dislike him, Elon Musk knows his value to investors, projects and even the media.

Meanwhile, this wasn’t the first time the media has been called out for its clickbaity-ness. Although it was business at the end of the day, media publications need to find a better way than engaging readers through hate.