With a Single Tweet, Elon Musk Sends a Cryptocurrency Price up to N10.75trn
- Tesla and SpaceX owner has always upset the market, especially the cryptocurrency market which sends the prices in volatile mood
- He recently pushed the price of Dogecoin, one of his latest pets up by 20 per cent, sending its market cap into trillions of Naira
- The South Africa-born billionaire is always controversial especially when digital currency is concerned as he has upset traders a lot of time
World’s richest influencer, well you can call him that, and Tesla founder, Elon Musk in a series of tweets was praising Dogecoin and said Tesla will accept payment in the digital currency for some products. The tweets sent Dogecoin’s price racing by 20 per cent.
Source: Getty Images
Dogecoin’s price traded at 0.21 per cent with a market cap of N10.721trillion which is an all-time high of N125 for the cryptocurrency.
As Musk’s company, Tesla pondered making some products accessible for purchase using Dogecoins, he sparked the meme coin.
What Musk is saying
Musk has long been a supporter of the
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cryptocurrency and has invested in it. In May this year, he asked his followes on Twitter if they thought Tesla should accept Dogecoin as payments, and more than three-quarters said yes.
The next major feedback came as he tweeted, “Tesla will make some merch buyable with Doge & see how it goes.”
Because of this, Tesla takes the unusual step of accepting just Dogecoin as a cryptocurrency. The Tesla founder runs the danger of angering Bitcoin enthusiasts, as he previously authorized and then banned Bitcoin purchases for Tesla automobiles due to an environmental issue.
Musk also declared that Dogecoin is “better suited for transactions” than Bitcoin, after being named TIME Magazine’s “Person of the Year” this week,
Musk said
“The total transaction flow that you do with Dogecoin, like transactions per day, is much higher potential than Bitcoin,”
Musk added to a longstanding record of public praise of DOGE.
Controversial Chip for human brains
Meanwhile, Legit.ng had reported that Elon Musk has announced his brain-interface technology company, Neuralink, is ready to implant microchips into the brains of humans.
The chip, according to Elon Musk, will help restore functionality to those with paralysis and other forms of brain challenges.
He went on to say that the chips, which will be implanted into people's brains, are intended to record and stimulate brain activity in order to aid patients suffering from significant spinal cord injuries and neurological illnesses.
Source: Legit.ng
