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

[Sherry7788]

What does that mean? Like seemingly so many things of late, it starts with an internet meme, this one about a cute-looking Shiba Inu and deliberately mangled grammar, and ends with a highly manipulated financial instrument making a rich person a lot of money. “Doge” is shorthand for a joke cryptocurrency based on the meme named “Dogecoin,” which launched in December 2013.

 

[Irfanali]

Tesla, the electric car company run by the world's richest man Elon Musk, revealed Monday that it has bought ڈالر 1.5 billion (1. 1.1 billion) in bitcoin and said it may be in the popular but controversial script currency. Accept payment.

 

[Kelvin7656]

Going by the spate of recent commentary on the stock market, we’re in the midst of silly season. People bought shares in a video game retail chain on the advice of anonymous Redditors. People are buying crypto because Elon Musk, the world’s richest man, tweets cryptic endorsements of it, or because his company has purchased $1.5 billion worth of it. This is all wild, irrational behavior, many pundits believe—amateur investors showing their amateurishness. “This is just the sort of silliness we need to get used to at this stage of the longest market bull run in history,” the Financial Times columnist Katie Martin wrote.

Investment gurus typically think of the rational retail investor as the kind of creature dreamed up by the economist Benjamin Graham. In his book “The Intelligent Investor,” Graham advised his readers to look closely at annual reports, earnings announcements, and other financials. And certainly the history of markets tells us that there’s plenty to be said for an approach based on such fundamental, careful scrutiny, even if it tends to be scorned during galloping bull runs like the present one.

 

[Kinglegend01]

I think the reason why Elon musk invested in bitcoins is because he is like any businessman, he is still looking for a way to acquire more money since bitcoin is the best cryptocurrency and the most valuable one too. I think he doesn't need to invest in dodge coin since he owns it, he is just looking to gather more publicity and more investors to make it worth more.

 

[ibaad]

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[Xerryl]

I think because Bitcoin is higher than Doge coin but I know he might join to boost his Dogecoin by investing in Bitcoin
I know when Elon invested in Bitcoin he already has a plan, and I think that to build and increase the value of his coin

Yea, but I don't think Elon musk owns dogecoin

 

[Goodday]

Elon Musk is the founder of dogecoin, he is only giving the coin much support and if you follow news very well you will know that his actions and tweets always affect the crypto market as a whole but not only dogecoin. But for the reason he decided to invest in bitcoin, he saw the great potentials bitcoin has and decided to take the advice of Saylor, the founder of MicroStrategy to also invest in bitcoin.

 

[Chibson]

Bitcoin is definitely more valuable and of course more marketable than any other cryptocurrency in the entire world. So the man who has proven to love cryptocurrency investing in bitcoin is of of course there is a chance that he may invest in his own dogecoin in the nearest future in the near future.

 

[gbadebo9]

The reason I think Elon musk invested in bit coin is not far fetch from how the bitcoin is moving rapidly. Looking at the bitcoin acceptability many people engage in using bitcoin as means of exchange. Elon musk is an investor and he will look for a way where his invest will skyrocketed to the greater height. The dogecoin is just started and it has to given some time to flourish so that the coin will also appreciated.

 

[Hasan Raza]

I think on the grounds that Bitcoin is higher than Doge coin however I realize he may join to help his Dogecoin by putting resources into Bitcoin.I know when Elon put resources into Bitcoin he as of now has an arrangement, and I imagine that to assemble and expand the estimation of his coin.

 

[Ziki]

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.

I'm glad you saw sense in what I was saying. Anything can happen. Everybody entering crypto currency is doing that to make profit and by my analysis, he stands to make quite a lot if he pulls such stunt.

Post automatically merged: Feb 11, 2021

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....

Trust me. Elon knows what he's doing. Don't be surprised if there is a sudden drop in the price of Bitcoin. Just know that the man has remove his investment from Bitcoin. He invested, by his influence, made other investors to invest. The price went up, now he's trying to remove his profit

 

[REPLICA]

I'm glad you saw sense in what I was saying. Anything can happen. Everybody entering crypto currency is doing that to make profit and by my analysis, he stands to make quite a lot if he pulls such stunt.

Post automatically merged: Feb 11, 2021

Trust me. Elon knows what he's doing. Don't be surprised if there is a sudden drop in the price of Bitcoin. Just know that the man has remove his investment from Bitcoin. He invested, by his influence, made other investors to invest. The price went up, now he's trying to remove his profit

That will be disaster if Elon musk sells his investment on Doge coin just to see how much he is influencing Doge coin. I am pretty sure that Doge coin will spectate the largest drop out in history just like the historical rise.

 

[ahmedo24]

That will be disaster if Elon musk sells his investment on Doge coin just to see how much he is influencing Doge coin. I am pretty sure that Doge coin will spectate the largest drop out in history just like the historical rise.

I am not sure if he has Invested heavily on Dogecoin like he did for bitcoin , I think his tweets were the only push factors that made people or Invest in the coin heavily. He bought some for his child though.

 

[REPLICA]

I am not sure if he has Invested heavily on Dogecoin like he did for bitcoin , I think his tweets were the only push factors that made people or Invest in the coin heavily. He bought some for his child though.

Yeah as he said on his tweet that he bought some Doge coins for his child but he didn't mention how much. He did the same when he tweeted about investing on bitcoin. I think he may expose how much he invested on bitcoin as that will cause bitcoin to go for a bull rush.

 

[Umerfarooq]

More races for those who trust Elon Musk's Dogican tweet

Musk tweeted Wednesday, "Bought some doggie for Lil X, so he could be a little kid." Musk tweeted a survey last week that received 2.4 million responses asking users if the "currency of the future" would be Dogoscan or "all other cryptocurrencies are common

Post automatically merged: Feb 12, 2021

More races for those who trust Elon Musk's Dogican tweet

Musk tweeted Wednesday, "Bought some doggie for Lil X, so he could be a little kid." Musk tweeted a survey last week that received 2.4 million responses asking users if the "currency of the future" would be Dogoscan or "all other cryptocurrencies are common

 

[Jlife]

We cannot actually tell the reason invested in bitcoins other than investing in his own cryptocurrency but for the the reason it is best known to him and him alone,my own issue is when and how to know when he is about to invest in any cryptocurrency so that I can buy that cryptocurrency and earned some money.

 

[Segshowee]

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

No doubt Bitcoin is the most valuable of all Cryptocurrencies. So, who wouldn't want to take advantage of it to make some cool cash. Again, it is the most acceptable coin for payment by sales outlets and other organizations.

 

[ahmedo24]

It is never late to invest in the coin because more bull run days ahead for the coin , though you don't put all your investment into bitcoin alone there other coins to Check out on also especially the smaller ones

 

[Debola]

ELON MUSK'S DOGECOIN TWEETING HAS BELIEVERS BARKING FOR MORE

"Bought some Dogecoin for lil X, so he can be a toddler hodler," Musk tweeted Wednesday. Musk tweeted a poll last week that received 2.4 million responses asking users whether the "future currency of Earth" would be Dogecoin or "all other crypto

 

[Sheyemanu]

Firstlyz I would like to state the fact that elon musk doesn't own dogecoin. He knew that Bitcoin has more potential than Dogecoin. Dogecoin hasn't even surpassed the like of Ethereum and Litecoin. Moreover, Bitcoin is like the poster boy of cryptocurrency so it's only befitting to invest in Bitcoin as that's a smarter investment