Elon musk crypto coin market
Being a decentralized market, and generally outside of the purview of regulators, the crypto market is one that's perhaps more susceptible to hysteria. Sentiment drives a significant portion of the returns crypto investors have seen of late. Up to now, capital has mostly flowed in the direction of this sentiment. However, a recent tweet by Elon Musk calling out the web3 crowd appears to have struck a nerve yet again. Elon Musk's Twitter account currently has more than 65 million followers.
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- How seriously should investors consider the impact of Elon Musk’s tweets on cryptos?
- Bitcoin, Doge, Shiba Inu slide; Elon Musk predicts official currency of Mars
- Fake ‘Grimacecoin’ Jumps 285,000% After McDonald’s and Elon Musk Joke
- Elon Musk pumps Dogecoin with yet another tweet, token surges 25%
- Bitcoin surges above $US47,000, driven by Elon Musk and Tesla's $US1.5b cryptocurrency bet
How seriously should investors consider the impact of Elon Musk’s tweets on cryptos?
The cryptocurrency dogecoin went on a rocket ride to the moon and back over the weekend after Elon Musk poked fun at it on Saturday Night Live before announcing on Monday that his company would accept it as legitimate payment for a mission to the moon. If that sentence makes little sense to you, you're not alone. But read on for a primer about what exactly is going on. Dogecoin was created in by a pair of software developers who worked at Adobe and IBM, respectively, as a parody of cryptocurrencies such as bitcoin.
Cryptocurrencies are a type of digital money that can be used to pay for things in the online world. Most of them, including dogecoin and bitcoin, are backed by an encrypted digital ledger of transactions, known as a blockchain. Named after a Shiba Inu dog that was the subject of an internet meme at the time , cryptocurrency enthusiasts and online jokesters began trading dogecoins for fractions of a penny. Today that same dogecoin is worth 50 cents US, an increase of more than 32, per cent.
While technically dogecoin exists as an offshoot of the original blockchain that bitcoin is on, it is not as secure as bitcoin, nor is there a cap on the number of dogecoins that can exist, as is the case with bitcoin. Strictly speaking, nothing. But Musk, who recently became the richest man in human history , is a big fan of the cryptocurrency.
Musk jumped aboard the doge train last year, mostly as a joke, but over the course of several months, comments he made about dogecoin on social media lent it more and more credence. His earliest mention of dogecoin came on Twitter in April , when he called it "my fav cryptocurrency. His electric car company, Tesla, became a major influence in cryptocurrencies in general, after it announced earlier this year that it would accept bitcoin as payment, and would hold bitcoin on its books as an asset.
Musk hosted NBC's comedy show Saturday Night Live this past weekend, which led to speculation that he was likely to talk about the currency during his appearance. Soon after, the price of dogecoin rose to a high of about 73 cents US on Thursday, according to cryptocurrency exchange Coinbase. In one SNL sketch, Musk, appearing as a fictional cryptocurrency expert, was asked to explain what exactly dogecoin is, and after some jovial back and forth, Musk's character admits the whole thing is a "hustle.
Despite Musk's character saying elsewhere in the same sketch that dogecoin is "the future of currency" and "an unstoppable financial vehicle that's going to take over the world," the currency sold off after the sketch aired going as low as about 40 cents US per doge in the early hours of Sunday morning.
Edward Moya, a market analyst with foreign exchange company Oanda, said large blocks of doge started selling fast. The dogecoin in-joke got a little more serious on Monday when Musk tweeted about his space exploration company's next mission. More details came in a media release from Canadian manufacturing and logistics company Geometric Energy Corporation. The company said it will launch a kilogram satellite into orbit on one of SpaceX's rocket.
The release said the company would pay for the mission in dogecoin. CBC News asked Geometric exactly how much dogecoin they are paying in exchange for their space on the rocket. That inquiry was not immediately returned. Following news of the deal, the cryptocurrency's price increased on Monday, topping 50 cents US at one point. Late in the day however, doge were going for around 46 cents, well below where they were before the show aired. That's the multibillion-dollar question.
Or as Thorn put it in the style of the eponymous meme it's named after: "Very Currency. Much coin. That makes dogecoin the fifth most valuable cryptocurrency in the world.
It's worth more than Canadian telecom company Telus, grocery chain Loblaws and retail chain Canadian Tire are worth — put together. And the sky may indeed be the limit. Musk's wealth means he can afford to see what happens with doge, regardless.
But some financial commentators question whether it is responsible for Musk to comment on the cryptocurrency, given that he has the power to move its price. He can say anything he wants about dogecoin or cryptos fully aware that just him saying something moves the price," said James Angel, an associate professor at Georgetown University's McDonough School of Business who specializes in financial markets and cryptocurrency.
Oanda's Moya said that Musk's appearance may represent the peak for dogecoin's popularity. This is a buying opportunity," said Jehan Chu, managing partner at Hong Kong blockchain venture capital firm Kenetic Capital. Thorn agrees. What is dogecoin? And why is it rising and falling with Elon Musk?
CBC News Loaded. Business What is dogecoin? Cryptocurrency dogecoin went on a rocket ride to the moon and back over the weekend after Elon Musk poked fun at it on Saturday Night Live before announcing on Monday that his company would accept it as legitimate payment for a mission to the moon. Social Sharing. First thing's first — what is dogecoin? What are cryptocurrencies like bitcoin? Here's everything you need to know Named after a Shiba Inu dog that was the subject of an internet meme at the time , cryptocurrency enthusiasts and online jokesters began trading dogecoins for fractions of a penny.
What does it have to do with Elon Musk? Tesla, now strongly linked to bitcoin, drops in value as cryptocurrency plummets Why the rise of bitcoin could be the first shot in a currency revolution.
Bitcoin, Doge, Shiba Inu slide; Elon Musk predicts official currency of Mars
France 24 is not responsible for the content of external websites. Tesla founder Elon Musk has taken cryptocurrency on a rollercoaster ride over the past week, sending Bitcoin's value down and that of "joke" currency Dogecoin up. Major exchange Coinbase says it will start trading Dogecoin soon, following pressure from its rivals. Meanwhile, the travel industry is looking forward to a rebound this summer as lockdowns across the world ease. It's a similar situation in hospitality, with US businesses offering pay rises and bonuses to try to attract workers ahead of a busier summer season. Finally, the pipeline operator Colonial Pipeline has paid a huge sum to cyberattackers to regain control of its computer networks and data. While it solved the problem and restored petrol supplies, it could encourage other hackers to use ransomware to take US corporations and organisations hostage.
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Fake ‘Grimacecoin’ Jumps 285,000% After McDonald’s and Elon Musk Joke
The billionaire and Tesla CEO have made several tweets about cryptocurrency for a year and all of those tweets made headlines for causing fluctuations in cryptocurrency prices. Most of his tweets were particularly affecting Bitcoin and Dogecoin, of course. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.
Elon Musk pumps Dogecoin with yet another tweet, token surges 25%
Evermars coin website. Last week the price of Toursim Coin has decreased by American Numismatic Association. Die Kurs-Seite ist Teil des Crypto. No cables.
Bitcoin surges above $US47,000, driven by Elon Musk and Tesla's $US1.5b cryptocurrency bet
When one man can move a near-trillion dollar market by as much as 20 per cent with a tweet, it ought to be a wake-up call for investors and regulators. Elon Musk has now shown, quite consistently, that he can cause the price of bitcoins — and other cryptocurrencies — to soar or tumble in response to his somewhat erratic but plentiful contributions on Twitter. Tesla chief Elon Musk has been moving cryptocurrency markets with his tweets. Credit: AP. Mining bitcoin consumes more energy than Norway. That says something disconcerting about cryptocurrencies and the markets in which they are traded. The size of the market for bitcoin ought to mean that it has depth and liquidity. The volatility is consistent with the view that bitcoin and the other cryptocurrencies are purely mediums for speculation.
The cryptocurrency dogecoin went on a rocket ride to the moon and back over the weekend after Elon Musk poked fun at it on Saturday Night Live before announcing on Monday that his company would accept it as legitimate payment for a mission to the moon. If that sentence makes little sense to you, you're not alone. But read on for a primer about what exactly is going on.
Earlier on May 12, Musk in a tweet had said that his company has discontinued accepting the cryptocurrency as a form of payment due to environmental concerns. As Musk and his Tweets continue to impact the cryptocurrency markets, netizens took to Twitter, sharing memes and jokes on the matter. Take a look at some of the reactions under the trending hangtags Elon and Bitcoin:. He is inevitable… Bitcoin ElonMusk pic. Bitcoin traders and elonmusk relationship in the past few days is complicated pic. When someone asked me about my HODL journey so far.
Elon Musk has a love-hate relationship with cryptocurrencies. Bitcoin was created in and in the next 11years, Elon Musk did not show any interest in the virtual currency. This helped the cryptocurrency go through the roof, making it reach historical highs soon afterwards. In the first week of October this year, the dogecoin spinoff Floki Inu coin jumped 30 percent after a tweet from Elon Musk. Musk has a dog named Floki, which is a Shiba Inu, a Japanese dog breed. As a result of these tweets, Floki Inu rose by 1, percent by Sep
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