Why did Elon Musk invest in Bitcoin, why not is own doge coin

[Jomarie05]

Elon Musk always proves he constantly believes that nothing is ever impossible for him. Now that Elon Musk has actually confirmed that he thought Bitcoin was a good thing He follows through with all his ideas. This unique quality made him the richest man in the world in early 2021. So why did Elon Musk invest in bitcoin.

 

[Lagazine]

Elon Musk is a visionary leader. He have seen the future of cryptocurrency, he want to take the advantage of the coin to make things happen in future. He also lay emphasis on Dogecoin which a lots of investors has been investing on.

 

[Setho]

El on musk has really been up to work on twitter with tweets about various Cryptos. We have seen how he had made series of this posts about bitcoin and recently announced that his company Tesla transfered close to ten percent of its money into bitcoin causing it to reach a new all time high. I think elon wants to be sure of the doge coin project first before moving to stake a claim in it so its just a matter of time.

 

[Gilead]

Well as for Dodgecoin. It's still early for the value. But looking at Bitcoin it has the most value of all crypto currency there is at the moment. I just feel in my own opinion that musk is trying to call attention as relative to his own coin. Probably, investing in Bitcoin as achieved that aim.

 

[George10640]

I am very cryptocurrencies affect each other a lot.For dogecoin to rise I think since bitcoin is the mother coin that why it drives those other coins a lot. Indeed dogecoin will rise significantly in future when those other established coins rises.It is good that he also recognize other coins.

 

[Henry4040]

Elon Musk always proves he constantly believes that nothing is ever impossible for him. Now that Elon Musk has actually confirmed that he thought Bitcoin was a good thing He follows through with all his ideas. This unique quality made him the richest man in the world in early 2021. So why did Elon Musk invest in bitcoin

Post automatically merged: Feb 11, 2021

He probably knows there is huge profit in bitcoin than dodge coin

 

[Trojan8]

He's smart so this is his way of playing the market. He understands that bitcoin is the biggest coin so any bullish run from bitcoin would also cause most coin to do same. Also he made this investment years ago so it is not like he had to choose between both coins. He's actually pushing Doge coin more lately that's to show that he actually favors his coin too.

 

[Natedini]

Elon musk invested in bitcoin because he wanted to maximise returns on cash lying dormant in the company's accounts. The cryptocurrency has already risen in value by 62% this year, on top of a 300% rally in 2020, as investors search for alternative assets at a time when interest rates in many countries are at record lows. He is also planning to accept payment for his Tesla electric cars in Bitcoin in future.

 

[Ltherman]

Aier transaction convenience that bitcoin provides the integration of bitcoin as a payment system in tesla will be bringing in a new segment of buys and enthuisiast. Having a payment option like crypto widens the market reach of Tesla cos certainly some persons will prefer to transact with crypto than with fiat.

 

[Blue house]

It is an investment, he did to make more money, besides there is no law or rules that States that he should only invest in one coin.
He only widens his investment scope to a bigger one so he would make more money.

 

[REPLICA]

Elon Musk always proves he constantly believes that nothing is ever impossible for him. Now that Elon Musk has actually confirmed that he thought Bitcoin was a good thing He follows through with all his ideas. This unique quality made him the richest man in the world in early 2021. So why did Elon Musk invest in bitcoin

I think he wanted to show that he believes that bitcoin will be the future greatest investment platform so he tried to inform investors to invest as fast as possible and he hasn't disclosed the amount he invested that means he doesn't want to disclose how much he is earning or helping bitcoin or any other cryptocurrencies.

 

[Khezo]

Doge coins value is not yet as high as bitcoin. As a business man you have to weight your chances you have to know which is better or would bring in more income for you and which would not. He just weighed his chances and went for the better one

 

[Ziki]

I think he wanted to show that he believes that bitcoin will be the future greatest investment platform so he tried to inform investors to invest as fast as possible and he hasn't disclosed the amount he invested that means he doesn't want to disclose how much he is earning or helping bitcoin or any other cryptocurrencies.

You are right. But what do you think of this my theory. He invest in it, because he needs to make profit from it, he announces his support of Bitcoin to the world knowing that this will make more investors to come in. Don't be surprise when you see a drastic falling of Bitcoin. Just that Mr Musk has remove his investment

 

[REPLICA]

You are right. But what do you think of this my theory. He invest in it, because he needs to make profit from it, he announces his support of Bitcoin to the world knowing that this will make more investors to come in. Don't be surprise when you see a drastic falling of Bitcoin. Just that Mr Musk has remove his investment

That might be correct but I think Elon Musk played trick by keeping his investment amount secret. That would be frustrating for the investors who invested on bitcoin when the price was rushing. If bitcoin falls below 40k, that will be so frustrating.

 

[Waseem74]

People are buying crypto because Elon Musk, the world's richest man, tweets ... Ð is for Ðogecoin! ... “The fact that a thesis is flawed does not mean that we should not invest in it as long as ... Bitcoin and even Dogecoin, which began as a playful ... Elon Musk and Snoop Dogg Push Cryptocurrencies to Record Highs ... The virtual currency, which has no physical backing, could be ...

 

[bhennie]

When you talk about some of the smartest businessmen alive you have to recon with the name Elon Musk. And Elon Musk didn’t just invested in bitcoin he also invested indirectly in dogecoin because he bought about one million dollars worth of dogecoin in his son’s name

 

[GoldenLady]

Elon Musk always proves he constantly believes that nothing is ever impossible for him. Now that Elon Musk has actually confirmed that he thought Bitcoin was a good thing He follows through with all his ideas. This unique quality made him the richest man in the world in early 2021. So why did Elon Musk invest in bitcoin

Im still curious about why he's constantly tweeting about dogecoin, but not about bitcoin he actually spent money on.

Some people are of the opinion that he's just trolling doge....

 

[idhans]

Elon Musk always proves he constantly believes that nothing is ever impossible for him. Now that Elon Musk has actually confirmed that he thought Bitcoin was a good thing He follows through with all his ideas. This unique quality made him the richest man in the world in early 2021. So why did Elon Musk invest in bitcoin

Tweets, and comments from these guys can send any currency to the moon. I think Elon musk is more of a dogecoin fan than bitcoin, although he might have bought some bitcoin in time past. Most popular billionaires have bought bitcoin secretly or openly, and there's no doubt about that.

 

[Ralphjoe]

I believe Elon musk invested is capital in Bitcoin because of the strength and popularity that beacon has. He has discovered that bitcoin is the biggest cryptocurrency so far and so therefore that is where his investment will thrive in most instead of investing in his own cryptocurrency which is Dogecoin.

 

[Ltherman]

I think beyond the prospects of capital growth and gains that the corporation will stand to make by investing in BTC another reason could be that its purely transactional to aid the sales of its tesla cars snd other possible contract engagement.