The CEO of Tesla and SpaceX, known worldwide for having marketed the autonomous electric car, announced that he had invested only in three cryptocurrencies: Bitcoin, Dogecoin and Ether.
The announcement comes amid irrational enthusiasm for the one dubbed Shiba Inu, named after a Japanese dog breed. The richest man in the world has admitted that he does not hold any tokens of this currency.
Yet a month ago the billionaire had made him jump 777% by simply posting on social networks a photo of a Shiba dog named Floki. The speculators saw it as a sign.
THE BITCOIN REMAINS THE LOCOMOTIVE
With a purchase price set at 60,608 dollars (51,874 euros) - figures as of Thursday, October 28, 2021 - editor's note - Bitcoin remains the most expensive cryptocurrency on the financial markets.
The 50-year-old multi-billionaire declined to disclose the amount of his Bitcoin wallet but assured his company Tesla had a large amount of it.
HE SUPPORTS THE DOGECOIN
The other cryptocurrency he recently highlighted on Twitter is Dogecoin. The main competitor of the Shiba - which is also branded with a dog's head (editor's note), and which has recorded an increase of more than 25% in its price over the last 24 hours.
Extraordinary fluctuations which contrast with the real value of the product. A title of Dogecoin currently costs 0.000060 euros.
In comparison, the price of a Bitcoin when it was put into circulation on the market in 2009 was 0.00071 euros, against 51.874 euros today.
The richest man in the world seems to have understood the sensitivity of the cryptocurrency market and its weight on their prices. He should continue to profit from it.
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