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BTC $48005.85 (-0.7%)
ETH $3567.34 (-2.6%)
USDT $1.00 (-0.0%)
BCH $641.69 (-0.5%)
BSV $163.46 (3.58%)
LTC $186.43 (-2.3%)
BNB $421.68 (-2.3%)
ADA $2.42 (-1.9%)
DOGE $0.25 (2.35%)

Elon Musk Causes Stir, Bitcoin or DOGE? Which is which?

Elon Musk Causes Stir, Bitcoin or DOGE Which is which
  • Is DOGE just another pump-and-dump in the crypto timeline?
  • Raising people’s purchasing power to DOGE then leads them.
  • After tweets of DOGE, then a $1.5B Bitcoin investment, what is Musk up to?

Although Tesla Founder Elon Musk, is not offering financial or crypto advice, his tweets have a high impact. Lately, he seems to be pumping Dogecoin perhaps to raise people’s interest in DOGE as a gateway crypto?

All the hype started from a DOGE meme last week, which caused Dogecoin to soar up 1000 percent. Musk said:

 “The people have spoken. The future currency of Earth is Dogecoin.”

In addition, Snoop Dogg also tweeted about Dogecoin which gave the crypto even more visibility.

Then news followed that Tesla has invested $1.5 Billion in Bitcoin. The luxury car brand also announced that they will soon begin accepting bitcoin as payment for their products.

Musk has really been really serious about Cryptocurrencies lately. However, the big question here is why cause a stir for DOGE only to buy Bitcoin?

Elon Musk has been tweeting about cryptocurrencies over the past years, but this time the billionaire definitely made a bold unexpected move. Even though he is not the only famous person tweeting about cryptos.

Nevertheless, there is a fear that if Dogecoin ends up just another pump-and-dump in the crypto timeline, this will have a bad impact on all tokens, even Bitcoin. Of note, Bitcoin was recently highlighted on Wall Street and promoted as an alternative to gold.

Meanwhile, if DOGE’s price keeps on rising, this rally will surely be a moment of euphoria for everyone who is keeping an eye on both Bitcoin and DOGE.

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.