This Week on Crypto Twitter: Elon Musk’s Diamond Hands, Tom Brady Responds to Vitalik

Illustration by Mitchell Preffer for Decrypt

As spring arrives in the northern hemisphere and temperatures warm up, so do crypto marketswith most major cryptocurrencies up from last Sunday after a stagnant winter. But attract even more attention? Elon being Elon.

On Monday, the CEO of Tesla and SpaceX asked his supporters for “thoughts on the likely rate of inflation over the next few years” and was inundated with responses – some serious, others just shilling Musk’s favorite memecoin, DOGE – including a tweet from the CEO of MicroStrategy and Bitcoin HODLing maxi Michael Saylor.

Saylor tweeted, in part: “Consumer inflation in USD will continue at near all-time highs, and asset inflation will continue at twice the rate of consumer inflation.

Musk answered 12 minutes later“It’s not entirely unpredictable that you would come to this conclusion,” adding shortly afterwards, “As a rule of thumb, for those looking for advice on this thread, it’s usually best to own physical assets like a house or stocks in companies that you think make good commodities, than dollars when inflation is high I still own and will not sell my Bitcoin, Ethereum or Doge fwiw.

So there you have it: Almost a year has passed, and Musk still has diamond hands.

In politics

Bitcoin HODLing Senator Cynthia Lummis of Wyoming announced that its new Bitcoin bill includes a tax exclusion for purchases made with crypto up to $600. She tweeted: “Can you imagine tracking every cup of coffee or every hamburger purchase for currency gain or loss [sic] at the time of the transaction? (Nightmare).”

Lummis, who is currently working to incorporate crypto into the US tax code, authored the Responsible Financial Innovation Act since last year, previously tweeting that she was “putting the final touches above.”

Elsewhere in politics, Bryan Solstin, STEM and Privacy Advocate announcement that he is running for the US Senate and establishing BTC as legal tender in the US”will be my main objective in the Senate. »

On Wednesday, Tom Emmer, the Minnesota Republican and Blockchain Caucus Chairman, shared “a lot of advice” that the U.S. Securities and Exchange Commission was making “overloaded” requests to “the crypto community,” saying such measures could be “stifles innovation.”

Emmer then sent a letter to the SECcosigned by seven colleagues, asking the federal agency to clarify how it collects information from cryptocurrency-related companies, while also asking that the SEC’s practices comply with “standards established in the Red Tape Reduction Act, which limits the burden on the government. imposes on private companies and citizens.

On Thursday, Senator Elizabeth Warren of Massachusetts introduced a bill aimed at closing potential loopholes that could have allowed Russian oligarchs to use crypto to evade sanctions.

Warren tweeted, in part: “We cannot allow Putin and his cronies to hide their wealth and evade economic sanctions using cryptocurrency.

The bill is not without criticism. On the day of the announcement, the Washington, DC-based think tank Coin Center says that the vague language of the legislation “would impose sweeping restrictions on the cryptocurrency ecosystem under the guise of tightening sanctions against Russia for its unwarranted invasion of Ukraine.” Coin Center further called the bill “unnecessary, overbroad, and unconstitutional.”

Buterin on Brady

Last week, a hapless football lover paid $518,628 for a football that, at least for a little while, was used for the last touchdown pass of Tom Brady’s career. The bidder didn’t know it, the next day the Tampa quarterback announced his retirementthus rendering the ball almost worthless.

Bitcoin-maxi Brady (who is rocking red laser eyes in his Twitter profile picture) heard about the unfortunate purchase and tweeted at crypto exchange FTX: “…could we donate a bitcoin to charity of their choice?!” (Brady has a stake in FTX.)

On the same day, Ethereum creator Vitalik Buterin tweeted four amusing responses to his appearance on the cover of Time. The tweets shared a theme: all compared his appearance to that of Tom Brady.

Buterin wrote, “I didn’t even know who Tom Brady was, I had to ask people around me. My best guess was that he was the actor from Mission Impossible.”

Brady replied to Buterin: “What up Vitalik! You may not know me but I just wanted to say that I’m a huge fan of yours. thank you for everything you have built in the world of crypto, otherwise @Autograph would not have been possible. I hope to be able to meet you one day…”

Brady included the goat emoji, with GOAT meaning greatest of all time, perhaps a nod to Vitalik from another who has risen to the top of his field.

Finally, Crypto: The Musical is a thing and it’s coming soon.

Twitter user @amandacassatt broke the news on Thursday: “Alpha leak – @serotonin_hq produced Crypto: The Musical, the first Broadway musical funded by DAO, telling the story of a woman entering the web3. In her tweet, she also mentions that the “DAO will be launched in June” and that the project will “reward investors with profits”.

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