Elon Musk is official the richest person in the world with an amazing $269 billion in his pocket. Well, may he doesn’t have it in cash but his assets are only gaining in value including Tesla and SpaceX. Being the person that revolutionized the car and space industry, it’s a normal thing to assume that he has some influence on the world but that isn’t just because of his power.
One of his famous projects, before he became filthy rich, was PayPal which he sold to eBay for $1.5 billion and he got $180 million out of that deal. This was his plan all along and now he had money to move to different projects he desired to do. There is a reason why he is into crypto but can’t fully commit.
Elon Musk and Public Action
One thing that he doesn’t care about a lot is what other people will think of his actions which were demonstrated in Joe Rogan’s podcast where he smoked marijuana. For those people that say it’s nothing much, you probably didn’t know that this small thing he did drop stocks of his company, and his investors were angry and confused.
A good thing is that the numbers quickly got back because the general public realized he is just a human being and likes to do whatever he wants. This is also the reason why everyone loves him and supports his actions. He likes to be very public with his thoughts especially on Twitter where he comments on monthly trends.
So, when crypto is among the most talked about topics in the world, he had to jump on the opportunity and say something. The first thing actually got him suspended on social media because he asked his fans if he should buy some Bitcoin.
His Thoughts about Mining
He was usually answering questions when he would talk about mining because there are certain barriers he can’t cross. This is understandable but many of his fans would like to hear what he has to say. You will rarely hear him talk about mining rigs or cloud mining services that exist now either because he has not the time or can’t influence the public anymore.
But, what is related to mining and his thoughts is that the paper money is going away and digital currency is much better. With this statement, he’s supporting the crypto movement but he’s also talking about the scammers and how it needs to be regulated somehow. That might be the reason why he’s not more open about it.
The Dogecoin Movement
The Dogecoin movement can also be called a scandal because no one expected that Elon Musk will influence so many people to invest. His only tweet was a picture of a sand storm covering the city where the storm is Dogecoin and the city is the financial system. His comment was “It’s inevitable” meaning that Dogecoin will prevail.
So, him being the real-world Iron Man that everyone likes, people took it very seriously and started making investments. Those who did it before his tweet made some amazing profits. Some were furious because he has this impact on the market but no one can blame him for supporting a certain coin.
It would be a lot different if he’s the one that owns it and tells his fans to buy it which is a very common thing nowadays. But, Elon is more towards Bitcoin which we realized after the announcement that you can buy his Tesla cars with it.
Tesla and Bitcoin
Elon Musk decided in March of 2021 to invest in Bitcoin and have a payment option in cryptocurrency for a certain period of time. Some people say that they made more money on BTC than selling cars but that isn’t the case. Their profits from crypto were higher percentage-wise but Tesla grew their profits every year and now they are worth $1.6 trillion.
There isn’t a correct number when it comes to how much they made out of crypto but it’s between $1 and $2 billion. It’s estimated that they will allow buyers to make the payment in BTC again in the near future. Because they know what they are doing, it will probably be when the market is at its highest point so they can sell right away before prices drop.
Other car manufacturers didn’t like what they were seeing but it was very entertaining to normal people to see what he is capable of doing. This is one of the biggest reasons why he’s the most influential individual in the crypto world. Many followers are waiting for his next step and announcement so they can invest and make some fast money but he’s focused on SpaceX and other projects that have a much higher purpose than digital currency.
What Is He Up To?
He now has over 70 million followers on Twitter and the majority of the posts are about SpaceX because he is planning the Mars mission. This is not only very important for him but also to the whole world because this has never been done before. He’s dominating the industry even after he released everything there is to know about his rockets.
It’s a very smart idea to follow him there and see what he’s talking about because he’s not influencing only the crypto market but everything else. He has a huge impact on the car industry and what the government is doing with the COVID situation. You will rarely see some big CEO talking about these topics in a fun and entertaining way because they think they will have large consequences.
This is another great reason why people love him and why he has such an influence. The Dogecoin gained 5000% in its prime but it’s not a stable coin meaning that you shouldn’t expect it to rise to $1. The question is what will happen if he promotes something that isn’t a meme coin and is relatively new.
