A group of traders has decided to create the people’s coin named StopElon, to end the amount of power Tesla CEO Elon Musk has over the cryptocurrency market with his tweets and also to buy enough shares to one day take full control of Tesla.
The move follows the setbacks experienced by the bitcoin market days after Musk announced that the company will no longer accept bitcoin as a means of payment.
The summary of the objective set out by one of the three StopElon co-founders to Gizmodo via Telegram includes the purchase of StopElon, the encouragement of users to hold StopElon by charging 10% purchase and sale fees, and the redistribution of these fees to the community and the liquidity pool.
The list ranges from ensuring that StopElon is listed on a small exchange with the aim of one day being listed on major exchanges such as Binance or Coinbase to the final step, which is to buy up enough Tesla shares to acquire significant voting rights to take “full control of Tesla.”
For more information, read the original story in Gizmodo.