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

[Bookwormlux]

Elon musk chose to invest in Bitcoin without thinking about his own preferred Doge coin, because he's aware of the fact that Doge coin relies heavily on Bitcoin performance to growm

 

[Genie01]

Elon is an investor and what investors are known or is the art of taking decisions devoid of personal sentiments and emotional attachments.
That's why he is net profitable and he is amongst the richest.

 

[UsmanAmoyo]

Elon is an investor and what investors are known or is the art of taking decisions devoid of personal sentiments and emotional attachments.
That's why he is net profitable and he is amongst the richest.

Indeed Elon has no attachments to any coin or whatsoever ,he invests to secure or make money.
And that could be the secret to his wealth.

 

[Planbizzle]

For the very simple reason that man must not keep all his eggs in one basket
Bitcoin is an already established crypto and its doing well on its own
Investing in it as well as my own is a business venture that will reap dividends in the future

 

[Genie01]

Indeed Elon has no attachments to any coin or whatsoever ,he invests to secure or make money.
And that could be the secret to his wealth.

Yes, this could be the underlying secret behind his success .
The truth is, emotional attachments to any coin would not make that coin to increase in value .
You have to think critically and objectively in order to arrive at a good investment decision.

 

[UsmanAmoyo]

Yes, this could be the underlying secret behind his success .
The truth is, emotional attachments to any coin would not make that coin to increase in value .
You have to think critically and objectively in order to arrive at a good investment decision.

Critical thinking in analysis is very key in ensuring success of a market analyst.
However, such thinking is based on the informations and news happening in recent times.

 

[Genie01]

Critical thinking in analysis is very key in ensuring success of a market analyst.
However, such thinking is based on the informations and news happening in recent times.

Yes, the informations are what we use to frame our investment decisions on. If the information is incomplete our decision might be flawed. That's why it good not to decide if the information you have isn't sufficient.

 

[UsmanAmoyo]

Yes, the informations are what we use to frame our investment decisions on. If the information is incomplete our decision might be flawed. That's why it good not to decide if the information you have isn't sufficient.

You are right. Information is gives power in decision making, however incomplete information sometimes is as good as no information because it would make one to take investment decisions that is not the best .

 

[tyrim88]

Wow, I never knew he owns dogecoin. I can't really say the reasons behind his latest moves though. But I noticed as Bitcoin rises, most coins like xrp, trx BNB also increases, although in different percentage.

One of the thing about most if not all alt coin is that,the price of bitcoin usually has an effect on its price.Big whale investors usually buy into a particular coin and then you will begin to see a surge in the price of the coin.

 

[Sincerem]

From all indication Elon musk is not a direct owner of dogecoin. He is just a supporter and a partner in the dogecoin network. Bitcoin's appeared to be among the most trusted cryptocurrency . That could be the reason for choosing Bitcoin.