The Tesla boss published several tweets on the topic of crypto over the weekend
Elon Musk was busy making active contributions to cryptocurrencies on Twitterverse yesterday. In the past, his tweets about cryptocurrencies have resulted in significant trade value and volume shifts in the market.
The business tycoon posted a tweet about Dogecoin (an altcoin that started as a meme), which resulted in a 25% profit for the coin.
“One word: Doge,” he tweeted.
Musk previously talked about Dogecoin, and the last time he posted a tweet about it, the price of altcoin rose 14%. Yesterday’s post sparked Dogecoin market when the altcoin was trending on the social platform. After posting the tweet, he changed his account’s bio to “Former Dogecoin CEO”.
Crypto analysts believe the price of altcoin has gone up as a lot of people took an interest in it after Musk’s tweet. The crypto room tends to be sentimental and so it is not surprising that the attention of celebrities picks up the interest of users. The SpaceX boss also sent a tweet about Bitcoin (BTC), likely as Sally.
Leading crypto by market cap has had a big day after breaking record highs and surpassing $ 24,000. The billionaire entrepreneur posted a cheeky meme illustrating he was trying to live a normal life, but Bitcoin was a huge distraction in his quest for a quiet life.
Michael Saylor, CEO of MicroStrategy, responded by saying, “If you want to do your shareholders a $ 100 billion favor, convert the TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow suit, and in time it would become a $ 1 trillion favor. “
Musk responded by asking if it was possible to convert Tesla’s funds into Bitcoin. The tweet was answered with multiple replies from the crypto community. Saylor replied: “Yes. I’ve bought over $ 1.3 billion in #BTC in the past few months and I’d love to share my game book with you offline – from one rocket scientist to another. “
Morgan Creek’s Anthony Pompliano also joined the bandwagon and tweeted, “The internet will go down if Elon Musk converts a balance sheet from Tesla to Bitcoin.”
Bitcoin critic Peter Schiff commented on the issue and warned Musk not to follow up Saylor’s game.
“Michael, like everyone else involved in the Bitcoin pyramid scheme, needs to attract new buyers to the program to keep it going,” he said.