Telsa, Elon, and CryptoCurrency

Telsa, Elon, and CryptoCurrency

February 10, 2021 0 By @LukeLarsen

Elon Musk and one of his companies, Tesla automotive, seem to be incredibly bullish on cryptocurrency. Recently on the 8th, it was released that Telsa has bought 1.5 billion worth of bitcoin, and may accept it for payments in the near future.

As many in the cryptocurrency sector have found Elon Musk the CEO of Telsa has been incredibly bullish on crypto. He has made many tweets on a “meme” coin named dogecoin. Elon has also made a lot of tweets about bitcoin, and dogecoin. Some online speculate that a lot of the recent moves from dogecoin are due to Elon’s public jokes and memes about it. On Twitter, he changed his bio to say Bitcoin. Although this has since been removed.

Follow this change in his bio Bitcoin rose 15%. Currently, it seems that Elon whether he means to or not has a lot of control over interest in stocks, crypto, and assets in general. The same kind of event happened when he tweeted Gamestonk when the WallStreetBets GameStop event was occurring. It would be wise to remember not to get caught up in the fear of missing out when these event occurs and stay to your own investing strategy. Honestly, these are unpredictable events and from my experience those who invest emotionally almost always lose.

I am not a financial advisor if you want financial advice seek someone who knows what they are doing and is licensed.