Elon Musk uses Twitter like no one else…

Elon Musk uses Twitter like no one else… post thumbnail image

One of the reasons is the impact on cryptocurrency rates.

American Time magazine named entrepreneur and crypto investor Elon Musk its “Person of the Year 2021”.

  • The magazine’s management noted the success of his companies Tesla and SpaceX, as well as the high degree of influence on the value of cryptocurrencies. Recall that Tesla’s capitalization is more than $1 trillion, and SpaceX’s costs in October exceeded $100 billion.

  • In October, Forbes magazine declared Elon Musk the richest person in world history. His net worth exceeded $300 billion, but then dropped by about $35 billion.

  • In the fall, the entrepreneur began to sell his stake in an electric car factory. He sold large blocks of stock in November and early December. The entrepreneur made this decision amid allegations of tax evasion on unrealized profits, Bloomberg reports.

  • The Elon Musk project also includes neural interface developer Neuralink and construction company The Boring Company.
  • Dogecoin is considered as Elon Musk’s favorite cryptocurrency. Developer comments on Twitter have repeatedly propelled the digital asset’s path into growth. Recently, the entrepreneur drew attention to the issue of withdrawing Dogecoin from the Binance crypto exchange, after which withdrawals resumed.

“Elon Musk uses Twitter like no other business leader,” said John Simmons, executive editor of Time magazine.

  • Musk himself said in an interview with the publication that he did not find his tweets significant for the market. According to him, the price movement “is still happening by itself”.

  • It is noteworthy that the Canadian company Geometric Energy Corporation (GEC) recently agreed to pay Dogecoin for the launch of a satellite to the Moon. Elon Musk’s SpaceX is in charge of the technical components of the mission.

  • Tesla’s stock price in the background fell 3% to $983 and continues to fall.

Source: MarketWatch.

Read also: The first Dogecoin satellite will go to the Moon in Q1 2022.

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