Elon Musk has his sights set on the burgeoning sector of decentralized finance, as shown by a cleverly worded tweet teasing proponents.
Cryptocurrency enthusiasts continue to be mocked by Elon Musk. Tesla’s CEO has his sights set on decentralized finance after several tweets about the meme-coin Dogecoin (DeFi).
Elon Musk is without a doubt one of the most intriguing figures in the cryptocurrency community. He’s not only one of the world’s wealthiest guys, but he’s also quirky and unconventional in how he interacts with his vast Twitter followers and the media in general.
He made headlines numerous times this year after referencing Dogecoin on several occasions, the majority of which resulted in huge increases in the cryptocurrency’s price.
Musk now seems to be focusing on decentralized finance (DeFi).
“Don’t defy DeFi,” he mocked proponents in a tweet sent just a few minutes ago. While it’s unclear whether he meant it or just liked the wordplay, it does demonstrate that he’s aware of the field of decentralized finance, which is still in its infancy.
Naturally, many prominent people in the industry, including TRON’s Justin Sun, took notice of the tweet.
In any case, Musk’s tweet comes at a difficult time for DeFi-based cryptocurrencies, as many of them have been losing ground in recent days. This includes some of the industry’s biggest names, such as Uniswap’s UNI, LINK, AAVE, SUSHI, and others, which have all seen double-digit drops in the last week.
It’s also worth noting that Musk tweeted this only one day after Tesla revealed that BTC would be accepted as a form of payment for its goods.