Powerful tweets. How is Elon Musk Playing with Crypto?

Let’s briefly remember who Elon Musk is. He is one of the brightest, original and influential entrepreneurs in the media space today. And if you don’t believe it, we’re ready to dispel your doubts right now. 

Let’s start with the fact that Elon Musk is the richest man on the planet:

1. His total net worth is $267B* according to Bloomberg Billionaires Index as of 10 December 2021.

2. Since the beginning of this year (2020), Elon has made more than twice as much money (+$111B) as the 72-year-old Bernard Arnault(+$48B)* coming in 3rd on the list of assets and 2nd in terms of wealth earned in 2020.

And obviously more than Jeff Bezos (Amazon), Bill Gates (Microsoft), Larry Page and Sergey Brin (Google guys), Mark Zuckerberg (Facebook), and other billionaires from the list.

The significant evolution of Elon’s wealth over the last year you can check in the (Bloomberg) chart below:

3. Musk founded SpaceX, a corporation that promised to allow humans to live on other planets. And, in the ten years since launching it, he has introduced more innovation to space travel than Russia, China, the United States, Boeing, and Lockheed Martin combined in 60 years.

4. He co-founded and funded a company called SolarCity – the largest provider of solar panels in the United States.

5. Musk invested and became the CEO of Tesla. You know Tesla right? It’s an electric car company that creates environmentally sustainable vehicles.

6. Co-founded the electronic-payment company PayPal. The leading payment system in the world.

But it is one thing to become rich, and another thing to retain that wealth and manage it.

Another of Elon’s promising is Neuralink with its main goal to develop a neurocomputer interface that will make it possible to restore the sensory and motor functions of the brain and treat neurological disorders. You can read more about this project here: https://www.biorxiv.org/content/10.1101/703801v4.full

Elon’s tweets

Even serious and influential adults sometimes behave like children.
But how is it related to Elon? Well, when it comes to Twitter… Elon has a big passion for tweets. 

This is where his inner child sometimes breaks down all the barriers. And obviously, his posts generate a lot of buzz among all his followers, investors, businessmen, and ordinary fans.

His inner child gives him a superpower to chase his dreams and don’t give up when something goes wrong, making the impossible – possible. And that’s awesome! But it’s also good to remember that with great success comes a huge responsibility.

Lately, Elon’s tweets become some kind of explosive, which encourages and influences rallies on stock and crypto markets.

Just remember the Dogecoin. Musk publicly expressed his interest in and support for Dogecoin in March 2020, and then tweeted several times about it again. Have a look:

After his tweet, the price for Dogecoin skyrocketed. And when Musk tweeted a Lion King-inspired Dogecoin picture-meme, the price jumped more than 50%. That’s how the Crypto-Musk rallies began.

Check out, one of the latest Tweets about Dogecoin published on December 14, 2021, at 11:34 and how the price jumped immediately at 11:39:

https://coinmarketcap.com/currencies/dogecoin/

Looks fun right? But unfortunately, it is not that funny for crypto and ordinary investors to monitor the news in case Elon has published another of his quirky posts. For some of them, it might be pretty stressful. 

Although it is worth treating these posts with some irony or skepticism, as apparently, this is how Musk himself feels about it. At some point, it looks like he is just making fun without any side thoughts. Or maybe…he is an Evil Genius who wants to manipulate the whole World, Mars, and the entire Universe “ Buah Ha Ha Ha!”. (Kidding)

The massive human desire for a cute little “puppy”

In one of his tweets, Elon has said that he owes some cryptocurrencies such as Bitcoins, Ethereum, and Dogecoin just out of curiosity. And reminded everyone that it’s better to invest in products with true value for the customer, not money.

But the thirst for profit and dreams of a miracle doesn’t leave people’s minds!

He has sparked an intense reaction from crypto investors, after the publication of a photo of the new Shiba puppy.

The price of the Shiba Inu coin started to soar and continued to rise until 28 October, but then after Elon’s announcement that he was not holding it, it began to fall sharply.

Dynamics source: https://coinmarketcap.com/currencies/shiba-inu/

Shiba Inu has fallen and the downward trend continues at the moment (10 December 2021):

Another attempt to hint at the origin of his doggie’s name Floki by posting a meme about Vikings having visited the Moon triggered a wave of Viking-related coins and the creation of new ones, supposedly in the name of Elon (Viking Elon, VikingsChain, Space Vikings, Elon Viking / Evikingi).

*Floki. In medieval chronicles, notes remain about the noble Norwegian navigator and explorer Floki Vilgerdarson. The historical document The Book of the Settlement of Iceland mentions him as a great Viking.

Read about some Elon inspired coins and tokens in our article: “Top 5 November Crypto Gainers and Losers”

As you see, the tweet was published on November 3. And now look at the dynamics of SpaceVikings for 3 November:

https://coinmarketcap.com/currencies/space-vikings/

On the wave of hype and articles about it being a meme, SpaceVikings jumped 3 times, but then it showed terrible speculative volatility, so you can draw your conclusions about the reliability of such an investment.

One of the latest Elon’s posts, dated 4 December 2021, hints that he is being ” chased ” directly with offers to buy a particular cryptocurrency, such as web 3.0 crypto (which include Helium, Flux, Filecoin, Polkadot, Kusama).

How are these cryptocurrencies different from conventional ones? For example, Helium applies blockchain and physical hotspots to help clients access wireless internet around the world. Sounds interesting, but it could be another big bubble, so Elon Musk doesn’t want to give people any reason to think that the price of these coins will skyrocket and we should buy them.

Although it’s a bit crazy when the price of meme-currencies he doesn’t even own and never heard about skyrocket, when new ones are created based on someone else’s associations with his words, or just by simply adding his name to any word (Mars SpaceX, Elonomics, DogElonMars, and hundreds of others).

Every letter in his tweet will be disassembled and interpreted in different ways by adventurous nuts (and of course, it is just a simple coincidence that they are the creators of the currency they advertise).

Therefore, dear readers, do not fall for gossip and attempts to manipulate the public consciousness using rumors. Don’t believe everything you read. Look at the facts and think with your brains. 

Another thing to remember is that Elon sometimes may publish silly jokes, memes, or other ridiculous things with and without significant meaning, just like the rest of us. And it is all up to you how you respond, behave, or believe.

But… Damn. He loves that attention! 🙂

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