Does Elon Musk want to send the Dogecoin to Mars? For the past few days, the billionaire businessman, who weighs more than 184 billion dollars according to Forbes’ real-time evaluation (compared to 195 billion dollars for Jeff Bezos), has been constantly boosting this altcoin through numerous tweets.
The famous Dogecoin is a cryptomonnaie born in 2013, initially conceived as a joke designed to make fun of digital currencies. The cryptomony displaying the image of the Shiba Inu still takes 24% today on CoinMarketCap at $0.074, for a capitalisation of $9.5 billion. Doge is initially an Internet meme featuring the image of a shiba dog associated with a multicoloured text presenting its inner monologue. The altcoin Dogecoin was born at the end of 2013 and against all expectations, has gained in popularity.
Musk, who likes to be entertained on Twitter and even frequently replies to anonymous messages about Tesla, SpaceX and many other things, has had the Dogecoin taking off for the past week, claiming that it would be “the future motto of the Earth”, or the motto “of the people”. You never really know how to take messages from Tesla’s boss on Twitter, but it seems that some people are opting for the first degree.
Bitcoin had already taken advantage of the “Musk Effect” at the end of January, ignited by the support movement of some Silicon Valley bosses who mentioned the queen of the cryptomoney in their Twitter bios. The boss of Tesla and SpaceX, Elon Musk, who was part of the lot and whose Twitter ‘bio’ remained several days in the effigy of the first crypto-currency, then spoke during a conversation on the Clubhouse application in favour of Bitcoin. “I’m a Bitcoin supporter,” Musk insisted, who believes that cryptography is on the verge of achieving mass acceptance among ‘conventional financial people’. Tesla’s leader regrets not having bought Bitcoin eight years ago. “I was a bit slow to understand,” Musk said, for whom Bitcoin would therefore be “a good thing”.
Musk had also had fun in recent days with the popular WallStreetBets movement, those social traders who have been blowing up the most short-sold stocks of the moment, including GameStop, AMC and BlackBerry. The billionaire had tweeted about GameStop in particular, accompanying the stock market rally with his enthusiasm. We know that Musk doesn’t really appreciate hedge funds in short selling positions, which had weighed heavily on Tesla shares in recent years. It is therefore quite logical that the most popular boss of the moment is happy about this rebellion of the small holders against funds playing the price decline.
As for the Dogecoin, Musk’s position is unclear. He claims in any case that it is “the funniest crypto” and that “its simplicity makes its genius”. Probably a little thanks to him.