Cryptocurrency industry is garnering a lot of mainstream attention in recent times with Bitcoin being at the centre of discussions. As the traditional finance and fiat currencies struggle in the debilitating economic times, organizations and high net worth individuals are fast diverging to digital assets as they hedge against inflation.
World’s richest man, Elon Musk, set the crypto world on Adrenaline rush exclaiming that “crypto is the future currency of earth.”
Elon Musk Advises Not To Over Speculate Crypto Markets
In a two minute video released by The Hollywood Fix, Elon Musk was talking about Bitcoin and cryptocurrency expressing his views on rising BTC price. Musk noted that there is a good chance for cryptocurrencies being used at a mass level. He also advised people not to be too speculative of cryptocurrency at this point.
Elon Musk is indeed one of the most influential and sought after individuals whose opinions and statements can seemingly change financial markets’ mood. One Tweet from Elon Musk has the capability of setting the crypto markets on fire. Recently, the richest man in the world has showcased his interest in cryptocurrencies. He is often seen taking a jibe at cryptocurrency and has also showcased his unbounded love for Dogecoin. Recently Elon Must tweeted a picture of a dog in a tweet supporting Dogecoin rally, which resulted in skyrocketing the price of token further. When the Tesla CEO changed his Twitter bio to #Bitcoin and tweeted about it, everyone the crypto community started to talk about it fervently.
Earlier Elon Musk had mentioned that cryptocurrency can be used as the mode of exchange and can be the currency of Mars economy. However, now in a video, he has said that cryptocurrency can be the future currency of earth.
Elon Musk’s autonomous vehicle manufacturing firm, Tesla announced that it had purchased Bitcoin worth $1.5 Billion. The firm also said that it would introduce Bitcoin as a payment method for its customers, allowing them to buy products through BTC. Bitcoin bulls and crypto community has always called out Elon Musk for investing in Bitcoin and another cryptocurrency. As Bitcoin continues to garner mainstream attention, many prominent players have started to invest in the cryptocurrency.
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.