The Rich Get Richer - Elon Musk Pumps BAYC NFTs & ApeCoin

It's been a little over a week since Elon Musk purchased Twitter. I guess he's starting to settle in.

The pump

Our boi Elon changed his profile picture on Twitter this morning to a collage featuring many different Bored Ape Yacht Club NFTs. The one in the center is BAYC #5809. The funny thing to me about this is... He's now the owner of Twitter. Why wouldn't he use Twitter Blue to make his profile picture a verified NFT? This leads me to believe that he is just trolling or trying to pump his bags. As the new owner of Twitter, he can use the service for free and even if he couldn't, it's $3 per month. I doubt if he owns any of the BAYC NFTs in the picture.

He also followed this up with a tweet that said "I dunno ... seems kinda fungible". This to me indicates that he is absolutely trolling, and not at all hinting that he is the owner of any BAYC NFTs. I think he's poking fun at the fact that you can just screenshot NFTs and use them as your profile picture. If he were seriously trying to send a message, he would have used the verified profile picture function that got added to Twitter before his acquisition.

The guy that designed the collage he screenshotted for his profile picture even offered to give him the original NFT as long as he gets credit. He politely asked Elon to remove the image as it's something that he created. I think he as every right to request, at minimum, for credit to the image that he created. Elon clearly does not have much faith in NFTs if he actually thinks that this is OK.

My favorite Twitter account - greg even jumped in to help ole Elon out by providing him a hexagon version lol. Nice job greg, very cool. Thank you.

So of course everyone immediately jumps to the conclusion that this means Elon is backing BAYC. Thus, the floor price pumps like crazy to 116 ETH for the cheapest BAYC NFT. The rich get even richer. He may be trolling but he's manipulating the market because of his reach.

This also cause the price of the ApeCoin to pump around 20%. Again - the rich getting richer. People that had BAYC NFTs received an insanely large airdrop of these APE tokens and they just got another huge pump because Elon is bored. He just bought Twitter and he's already so bored he's trolling and manipulating the markets. Even though he's trolling, he's causing a lot of hype around the project. As if it needed more.

Can we get Elon to tweet about Hive or HBD? Even if it's trolling, it would be great for exposure. This is not the first time he's tweeted to troll and cause a giant move in the markets. It definitely won't be the last. If you wanna have a laugh, check out the replies to his tweet. Some of these are pure gold. Others are people complaining about their Teslas lol.

I'm just here having a laugh. I truly do love NFT technology and there's a lot of things that can actually be done with it. It's not all just monkey JPEGs and pixel art. It's a lot more than that. Don't feed the trolls. We just have to make sure that other use cases are actually being showcased and talked about.

Don't follow bored billionaires for investment advice, especially when they're known trolls. You'll almost guaranteed get rekt. Don't go mortgage your house to buy a Bored Ape because Elon tweeted.

Be safe out there.

Thanks for reading! Much love.

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