Elon Musk Dogecoin Affair

“Elon Musk Dogecoin” Elon Musk has been a successful businessman and entrepreneur that always thought of everything by staying twenty steps ahead. Being one of the richest and modern CEO who strives for technological advancement, it is only natural that Musk would be very much interested in the concept of cryptocurrency.

Elon Musk was at the forefront for making this type of currency completely legal. He expressed this by countering the illegal claims by saying his company will accept payment in cryptocurrency soon. 

Let’s face it, the CEO has such a powerful persona that his slightest claim is considered as a piece of golden advice, that if not taken might rob you of the chance of becoming a billionaire like Elon Musk.

Musk’s work ethic and business strategy are remarkable and completely new and authentic which is the reason so many people are trying to follow in his footsteps. Think of it as a beacon for a shortcut to success. The only problem is that beacon is quite vague and sometimes the signals get mixed.

It has gotten really popular in recent years (courtesy of Elon Musk’s tweets) and has gone up nearly 12000% since January this year. 

Dogecoin is a meme turned cryptocurrency paying tribute to the ‘Doge meme’ that took internet by a frenzy. It supports a picture of a beautiful and innocent looking Shiba Inu dog whose mood swings are used to convey points and preferences. It was started in 2013 as a joke which has now turned into the fifth largest cryptocurrency in whole wide world. It has a market value of almost $70 billion. 

The Space X CEO was first quite invested in Bitcoin, which is the most famous cryptocurrency, to the point that he started dealing in Bitcoin but due to its environmental factors, it was termed as BS by the CEO in one of his tweets. This was the reason that Bitcoin’s value suddenly plummeted. 

Elon Musk then went on to point to the joke-currency Dogecoin as the next big thing. One tweet from Musk in favor of Dogecoin suddenly raised its worth two hundred times than normal. The power in Musk’s tweet also captured the attention of financial agencies who warned people to not bet on cryptocurrency merely on the words of ‘someone famous’. What they failed to note down was that Elon Musk is quite the eccentric personality who always does what he says. 

He would often tweet in favor of Dogecoin and how it could be the future. He even started to deal in Dogecoin which soared its value even more. Eventually, as he would change his mind and be hot and cold towards the joke crypto-currency, so would the public as they were solely and blindly depending on the CEO’s every last word. 

In the end, Dogecoin had its ups and downs but now Elon Musk has, for the time being, owned the currency and is even planning on sending a Doge satellite to the moon. It was even earlier hinted at by Elon in one of his tweets. Long story short, Elon Musk has made Dogecoin the next big thing merely by his very presence and influence. 

Frequently Asked Questions (FAQs):

Is it true that Musk is investing in Dogecoin?

Yes, after Bitcoin, Elon Musk is quite interested in Dogecoin and is considering it as the new and improved ‘people’s crypto’. 

Why did Elon Musk shift from Bitcoin to Dogecoin?

Elon Musk recently referred to Bitcoin as BS and considered Dogecoin as the future. Musk had concerns that a few people might hoard the biggest cryptocurrency while not giving the other people a chance. It is also one of the reasons Elon Musk considered Dogecoin to be ‘people’s currency.  

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