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Once again Elon Musk turned the heads of each crypto enthusiast with his latest tweet showcasing the picture of Warren Buffet and a quote on cryptocurrency underneath. The Twitterati are talking about it and retweeting it to make it a trend.
Elon Musk is known for his tweets the most. When he is not working, he tweets which have made him more popular among crypto enthusiasts. Once again, he attracted a lot of eyeballs with his meme tweet where he shared a picture of Warren Buffet with his quote underneath, talking about coins.
Elon Musk is a Tesla and SpaceX CEO and is also a manipulator of the cryptocurrency market. He is regarded as one of the mischievous predictors of cryptocurrencies markets and his movement has an Internet name called the Musk Effect.
Elon Musk sees crypto as a big bet for future
He has been very public and open about his support for cryptocurrencies. His company Tesla has bought bitcoin, which later withdrew its support from the coin, and is actively tweeting about the meme cryptocurrency dogecoin. He even went as far ahead as saying that meme-cryptocurrency could well be the future if it wasn’t going to be bitcoin.
During an interview, he said that cryptocurrency is the future currency of the world. But the question is which one is going to be? He answers that it could be multiple.
Further citing the example of Dogecoin and its origin, he explained that Dogecoin was invented as a joke, to make fun of cryptocurrencies. He explained that the currency that began as a joke is now the real currency. However, he cautions the investors that they should not invest their life savings into cryptocurrencies.
Musk tweet with Buffet
Musk’s movement has been met with positive and negative reinforcement. While some called Musk the Dogefather, some have started a new cryptocurrency named $StopElon, to get him to tweet. However, there is no stopping for Musk, he appears to be getting wiser. On Tuesday, Musk roped in Warren Buffet to help with his crypto cause.
He posted a tweet saying Found on the Internet. He shares Warren Buffet’s picture with a quote underneath. The quote read Find as many coins as you can and fast. Buffett said that going public is also related to better financial advice. But the question is, did Buffett make the quote? Probably not.
Buffet never liked bitcoin. In 2018, he described bitcoin as regarded as rat poison squared. Buffet believes bitcoin or any other cryptocurrency is intrinsic in value. He further explains that If you buy bitcoin or some cryptocurrency, there is nothing that is producing anything. In an interview a few years ago, Buffet said that one is just hoping that the next guy pays more. Bitcoin has no unique value. One needs to stay away from it. The idea of having some intrinsic value in it is a joke.
The inception of Dogecoin
Dogecoin was started as a joke and for almost 7 years it continued as a joke until Elon Musk gave it a new lease of life. In 2021, meme and cryptocurrency lovers, along with GameStop Surge, decided to rally behind meme cryptocurrency. It jumped many times in value, reaching ten cents for the first time, then thirty and finally reached 69 cents in 2020, which is the highest ever.
There were coordinated groups that manipulated the cryptocurrency’s price. However, it failed. In July the value of Dogecoin was $0.233914, recording a slump of -3.61%.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
