The richest person in the world Elon Musk has a big influence in the world of cryptocurrency (crypto money). One tweet on Twitter can make the price of cryptocurrency go up and down quickly.
The most recent example is when he took to Twitter to feature his new pet named Floki. This is a Shiba Inu dog breed.
This tweet was immediately responded to by investors by buying Shiba Inu crypto money. Its price shot up 400% in a week and brought its market capitalization close to US$14 billion.
Elon Musk’s immense influence in the crypto world has one of his followers on Twitter asking how many Shiba Inu digital coins he has. Turns out he didn’t have the digital coin.
Elon Musk admits he only holds Bitcoin, Ethereum, and Dogecoin.
“As I said before don’t bet everything in crypto,” Elon Musk said as quoted on Twitter Tuesday (10/26/2021). “True value is building products and providing services to fellow human beings, not a money of any kind.”
He also explained to one of his followers on Twitter why he specifically supports Dogecoin, a digital coin inspired by a joke meme in 2013. It all started after he heard about Dogecoin from his employees.
“A lot of people I talked to from the production line at Tesla to the rocket maker at SpaceX who owns the Doge,” he explained.” They’re not Silicon Valley financiers or technologists. That’s why I decided to support Doge – it feels like crypto to a lot of people.