Elon Musk’s tweets in 2021 that influenced crypto trading

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                               Elon Musk’s tweets in 2021 that influenced crypto trading


  • Elon Musk has always influenced the crypto market in one way or another.
  • Musk once expressed his love for Dogecoin and sent the meme coin’s values flying over 50% within a day.
  • A meme tweeted by Elon Musk about Bitcoin led to the highest price value of Bitcoin a few days later.
  • On December 14, 2021, Musk poked fun at the crypto market by making Tesla merch buyable with Dogecoin, sending Dogecoin sparking up to 43%.

It is no secret to anyone who dabbles in cryptocurrency that Elon Musk may well be one of the most influential people in the crypto market ever. Throughout 2021, Elon Musk has proved over and over that he holds the crypto market within his palms. This shows how much the billionaire’s word hangs over the crypto market. As of December 2021, Tesla owns 42,000 BTC, worth roughly $2.8B today. 

No joke, Elon Musk has been one of the most active influencers of the crypto market. His actions in the crypto market even led to him getting accused of being Satoshi Nakamoto, the faceless inventor of Bitcoin. However, Musk denied these claims without hesitation. When asked how much cryptocurrency Musk owns, he had always responded vaguely, constantly vigilant about revealing too much of his endeavors in the crypto market. Still, the market hangs on his every word, and often, any cryptocurrency mentioned by him would spark unbelievable value influxes. Here are some examples:

Elon Musk’s love for Dogecoin

On April 2, 2019, Musk first declared that “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” in response to crypto investors nominating Elon Musk as the CEO of Dogecoin as a joke. Since then, the crypto market has taken Dogecoin way more seriously than ever before. Here was where Elon Musk’s influence over the crypto market began; it all started with Dogecoin’s upsurge as the top meme coin. 

Once upon a time, Dogecoin was only a meme, no one took it all that seriously, but a few short words from Elon Musk made it jump ranks within days. On February 4, 2021, Elon Musk released a series of tweets that expressed the same message, Musk adores Dogecoin. The meme went as far as incorporating a Lion King meme representing Musk and Doge into the mix. It is amusing to watch Musk’s influence over Dogecoin ever since 2019. After the tweet in February, Dogecoin’s values surged up in a matter of hours by over 15% within the hour and 50% in twenty-four hours.

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