Elon musk crypto stock
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- Where to buy Grimace coin: the trending token after Elon Musk and McDonald’s Twitter feud
- Elon Musk Shows How Crypto Trading May Ruin Stock Traders' Weekends
- Tesla now lets you buy some merch in Dogecoin
- Dogecoin plummets after Elon Musk calls cryptocurrency ‘a hustle’ on ‘SNL’
- When Elon Musk tweets, crypto prices move
- Bitcoin prices fall by $8,000 after Elon Musk's tweet, no more word's richest person
- Elon Musk loses $19 billion after bitcoin and Tesla shares plunge, ASX finishes lower
- Fake crypto Grimacecoin rockets 285,000% after McDonald’s Tesla joke
Where to buy Grimace coin: the trending token after Elon Musk and McDonald’s Twitter feud
Elon Musk doesn't mind expressing his opinions on anything from cannabis to space exploration. The Tesla CEO is rarely without a view on whatever the hot topic of the moment might be. You don't have to agree with him. In most cases, there's no compelling need to even pay attention to Musk's comments and tweets. However, there's a recent exception if you invest or are interested in investing in digital coins.
Here's one warning from Musk that every cryptocurrency investor needs to know. It's no secret that Musk is a big fan of cryptocurrencies. Tesla has invested in Bitcoin and even accepted the digital coin as a payment option for a while.
Last month, Musk was asked in a tweet about another cryptocurrency. He replied that he only owned Bitcoin, Dogecoin, and Ethereum -- a confirmation of what he said at a conference in July However, he also gave a warning: "Don't bet the farm on crypto! This wasn't the only time that Musk urged not to go too far with buying cryptocurrencies. In February of this year, the Tesla CEO stated, "People should not invest their life savings in cryptocurrency, to be clear — that's unwise.
In his October tweet, Musk even hinted at what investors might consider doing with the bulk of their money that isn't invested in cryptocurrencies. Warren Buffett couldn't have said it better himself. Unlike Musk, the legendary investor has a visceral dislike of cryptocurrencies. However, both men agree that companies that provide products and services that people use create value while other assets such as digital coins and gold don't.
He hasn't revealed exactly how much he's invested in cryptocurrencies. But it's probably not a large amount. In early , Musk said that he only owned 0. And those were given to him by a friend. His tweet in October of this year said that he bought Bitcoin, Dogecoin, and Ethereum "out of curiosity. Most investors probably don't need to hear Elon Musk tell them not to bet the farm on crypto.
But some do. And even for those who understand the importance of diversification and managing risk, the temptation to invest more heavily than is prudent into digital coins can be great. That's especially the case when you see millionaires and even billionaires who made their fortunes putting a lot of money in Shiba Inu.
Musk's warning deserves attention for one simple reason: He's right. His advice doesn't just apply to cryptocurrencies, of course. Investing too much into any asset can be dangerous, whether it's Bitcoin, Shiba Inu, or Tesla stock. However, digital coins are even more speculative than a stock such as Tesla. The valuations of cryptocurrencies depend on factors that tend to make them much more volatile than most stocks.
Yes, some cryptocurrencies will go "to the moon. Buffett's hard line against buying any cryptocurrencies goes too far for many investors. But Musk's cautionary perspective is one that everyone should heed. Discounted offers are only available to new members. Stock Advisor will renew at the then current list price.
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Follow keithspeights. Key Points Elon Musk urges that investors not invest too heavily in cryptocurrencies. He believes that "true value" is made by producing products and services that people use. Musk's advice is right. Image source: Getty Images.
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Elon Musk Shows How Crypto Trading May Ruin Stock Traders' Weekends
Thanks for contacting us. We've received your submission. The joke crypto, referencing their purple mascot shaped like a tastebud, parodied an earlier request by Elon Musk during a light-hearted Twitter exchange. Just hours later, the tweet had spurred the creation of nearly 10 grimacecoins on the Binance Smart Chain BSC network alone. Dogecoin, which was initially started as a joke in , is currently in the top 10 by market value for cryptocurrencies. Some products and cryptocurrency services can be very complex, and you should only put cash into things you understand. Earlier in January, Musk also announced that Tesla customers can now buy select items of merchandise using Dogecoin.
Tesla now lets you buy some merch in Dogecoin
A month is a long time in the world of cryptocurrency. It was not the only one. As Reuters reported, the fall could have been even larger but for the support of two of the biggest backers of crypto currencies - Tesla Inc. The former tweeted a diamond emoji indicating that bitcoins are safe investments. On March 24, for instance, the Tesla chief tweeted saying that one could purchase a Tesla with Bitcoin. This cheered up the crypto market giving it the assurance that an institutional giant like Tesla is backing the game. Later, on May 13, Musk has reversed his earlier decision of Tesla selling vehicles in exchange for Bitcoins. This has now sent tremors in the crypto world leading to fall in Bitcoin prices. No, you do not. I have not sold any of my Bitcoin.
Dogecoin plummets after Elon Musk calls cryptocurrency ‘a hustle’ on ‘SNL’
He's invested in it, along with bitcoin and ether, he said in October. But to Musk, dogecoin has an advantage over bitcoin and other cryptocurrencies: He sees dogecoin as the best cryptocurrency to transact with. Musk added that bitcoin is more suitable as a store of value, which is why its investors want to hold onto it and not sell it or use it for transactions. Dogecoin, on the other hand, is a currency that "encourages people to spend, rather than sort of hoard as a store of value," he said. However, while bitcoin supporters would agree that the asset is a store of value , they'd also argue that it's designed to be a sound peer-to-peer financial system and could be used for transactions, citing situations like El Salvador making bitcoin legal tender.
When Elon Musk tweets, crypto prices move
The Tweet was posted less than 2 hours ago, and it has already received over 1 million votes with 21 hours still to go. The car manufacturer asked:. Do you support this? I will abide by the results of this poll, whichever way it goes. The tweet has received a lot of comments from Bitcoin and crypto investors. However, the majority of repliers want Musk to put more capital either into BTC or their favorite crypto project.
Bitcoin prices fall by $8,000 after Elon Musk's tweet, no more word's richest person
Elon Musk is no ordinary CEO. He talks of cryptocurrencies, colonizing Mars, autonomous driving technology and pretty much whatever is on his mind — literally. Boasting more than 70 million followers on Twitter NYSE: TWTR , Musk fields questions from enthusiastic fans, sends cryptic messages to the market and sometimes gets into a small feud with a senator. Amid these moments, Elon Musk has been able to move certain markets as well. The move seemed stunning and considering the circumstances in hindsight, rather interesting. What would have happened if the people voted no?
Elon Musk loses $19 billion after bitcoin and Tesla shares plunge, ASX finishes lower
Tesla, the electric carmaker headed by billionaire Elon Musk, has started to allow people to buy brand merchandise using Dogecoin, a cryptocurrency initially started as a joke. Mr Musk announced the development on Twitter on Friday, a month after hinting of the plans. The news sent the value of Dogecoin soaring, though it fell back later. Comments by Mr Musk have frequently moved the prices of digital currencies, including Dogecoin and Bitcoin.
Fake crypto Grimacecoin rockets 285,000% after McDonald’s Tesla joke
Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. Dogelon Mars. United States Dollar. Dogelon Mars is up 4.
Last week, when Elon Musk tweeted that he had spoken with the team of Doge developers about how to make the coin more efficient, the impact was predictable: It sent the price of Dogecoin to the moon. It was just the latest in a series of Musk declarations that has sent the viral coin on a roller coaster over the past few weeks. They welcomed his input. Their coin might be based largely on hype, but they had planned to remain discreet. Except, it seems, for whenever Musk decides to tweet. Good on Elon.
Big-name companies suffered, with Peloton falling below its IPO price and Netflix suffering its steepest drop in a decade. Stocks in chipmakers also struggled. This is also the fourth successive weekly drop for the index, the longest decline in nine months. The prospect of interest rate hikes by the Federal Reserve is on the cards with a meeting planned for Tuesday and Wednesday this week.