You have just said it all. That he believed in the Bitcoin project that was why he invested in it. And also, he is a business man who wants to spread his portfolio too
Why did Elon Musk invest in Bitcoin, why not is own doge coin
- Thread starter Ziki
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For every action there is a reason behind it. For Elon Musk not to have his own coin must have a good reason for doing so. He can't just start a project without a solid reasons, it will be a waste of funds.
I don't Elon Musk is actually the owner of doge coin, supposedly he just took am interest in it. Notwithstanding, he still has the right to invest in whatever coin he wishes to.
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Elon musk is versatile business man. He invest in a commodity or business that will bring him fortunes. He has investment both in Bitcoin and in dogecoin. If he doesn't have investment around dogecoin he wouldn't have promoted it.
He already invested some amount of money in dogecoin for himself and his son ,there are people who still don't know about his investment
I think what was made public was his investment in Bitcoin. I strongly believe Elon musk is the owner of Dogecoin. He must have bought the company.
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Did any one notice Elon Musk is trying to promote himself as a Doge father. He referred himself as a doge father in a tweet. His tweet sent ripples in the crypto market and increased doge value
Elon Musk has started becoming very erratic. These days he is saying, Tesla is no longer accepting bitcoins because bitcoin is using coal power in the mining process.
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Elon Musk has started becoming very erratic. These days he is saying, Tesla is no longer accepting bitcoins because bitcoin is using coal power in the mining process.
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We cannot know the actual reason why he choose to invest in bitcoins than doge coin that is his own personal cryptocurrency according to a lot of people,on my own understanding I think the reason he is investing in bitcoins is for the Tesla car, but now he has sold off the bitcoins and the price of bitcoins is crashing.
Perhaps Musk is repenting these days because he invested $1.5 billion when bitcoin was about $50K but now the price has gone down to $40K. He even said telsa will no longer accept bitcoins
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The fact that he said Tesla will no longer accept Bitcoin is the cause of all this car down in cryptocurrency market probably I never thought his tweets good cause this havoc.
At this point, he is starting to sound really dishonest to me. Bitcoin and Doge both require lots of electricity. But guess what - they required lots of electricity a few months ago when he started supporting them lmao. Why does he care now if he didn't care back then? It baffles me.
Musk has time and agan made controversial remarks to manipulate bitcoin and doge price. he once said Doge to the moon and the price went up, he than said he was joking about doge and the price went down.
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Elon musk invested in Bitcoin because he is simply a business man conducting his business and trying to also expand his portfolios to now include cryptocurrency. He actually invested in his dogecoin too just so you know
he actually switched to Doge later after investing in Bitcoin, he realized that making Bitcoin through mining damages the nature and causes pollution
Well there are many reasons he would invest in Bitcoin but why he did is known to him, but I think it's the same reason most people are investing in too because it's a good form of investment
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Bitcoin seemed the better investment then, you don't expect Elon to put all his money into dodge, although I'm sure he has a sizable amount invested as well.
Simply put, to make money. Elon Musk is popular; the crowd follows him. He used the herd mentality to his advantage by investing in crypto, telling his tons of admirers what he's done. This sends the market into overdrive without any underlining analysis to back it up. When he's made enough money, he'll cash out and leave the unsuspecting investors who are still holding to their asset with a huge loss.
It is a just a battle of wits. When BTC goes up, all other Alt coins usually goes up. Therefore Doge coin will just follow suit and start rising. This was a well calculated move.
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The man called Elon Musk is a very smart investor he knows it will take time for his doge to gain the support that will get the coin to it desired heights and he knows he cant do it on his own without our support. So he keyed into bitcoin first and later he will stick to his dogecoin.
He is a great bussiness man, I'm sure he know what he did. Maybe won't earn a huge profit soon, but after years, when Bitcoin maybe will be overused all around the world, his bitcoin will worth a lot
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