Elon Musk Talks about Bitcoin & Dogecoin

Elon Musk has been proven a powerhouse that nobody expected if you asked a bunch of years ago. Lately, with merely simple words he managed to drive the crypto markets up and make some people a lot of money along the way.

There is no doubt that you are not familiar with the constant shilling of dogecoin that along with the WSB pumped the price nearly 1000%. In fact, from 1 cent, it went straight to 7 cents, so you can imagine the gains. You can read more in my other post about dogecoin here.

After that pump, Elon simply used a tag in his Twitter description about btc. The result was for btc to pump nearly 20% in a day, can you imagine the power of his words?

Now let's head to the most recent news around Elon and cryptocurrencies. He had a discussion on the popular Clubhouse audio chat app and as natural he was asked about btc and dogecoin. Let's now see what exactly he said about both coins.

Dogecoin

Occasionally I make jokes about dogecoin but they are really just meant to be jokes. Dogecoin was made as a joke to make fun of cryptocurrencies. But fate loves irony. The most entertaining outcome and the most ironic outcome would be that dogecoin becomes the currency of Earth in the future

So as you can see, he may think of dogecoin as a joke but at the same time, i believe he wants to see this "joke" moons, not because of the potentials but just for fun!

I can say that we haven't seen the end of dogecoin, but we are also going to see some nice pumps as well. Now i don't when that will happen but i believe it will.

Bitcoin

“I’ve got to watch what I say here because some of these things can really move the market. Many friends of mine have tried to convince me to get involved in bitcoin for a long time. I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin. I think bitcoin is really on the verge of getting broad acceptance by conventional finance people

As you can see Elon strongly believes in bitcoin and its future and he is supporting it as well. That means in my dictionary that btc is here to stay no matter what. When you have such a person pro bitcoin then it's only that he likes how it works etc etc but he also knows what's happening behind the scenes!

Musk said he once ate a slice of “bitcoin cake” given to him by a friend in 2013, and that he “clearly … should have at least bought some bitcoin eight years ago

Do you get what that means? That Musk knew about btc a long time ago and earn money from it. I will do some speculations here and say that he most likely holds btc even now.

Final Words

As you can see cryptos are here to stay and not only that but rich and famous people are endorsing them meaning, that in the following years we gonna see the masses adopting them. I think that 2020-2021 already made a strong start in mass adoption!

Now the only thing left, is how much crypto we gonna have in the following years and how these will change our lives!