Crypto billionaires, while sometimes not fully influencing the volatility of crypto assets, significantly affect the stability of the crypto market when they make jokes either on their social media pages or in front of cameras. Elon Musk, after suspending Bitcoin in May, he says he is thinking about reinstating it. Why do such billionaires confuse the crypto market?
The CEO of Tesla and SpaceX Elon Musk is apparently showing support for Dogecoin (DOGE), the 6th cryptocurrency by market cap. He has also revealed surprising support for a radical upgrade proposal for DOGE. However, this has not caused the altcoin to recover.
As the month-long skyrocketing of the digital currency market continues, Elon Musk the CEO of Tesla and SpaceX has come out to refute claims that he is a person behind the current bitcoin pump-and-dump scheme in early 2021.
Environmental lobbyists have for a long time been advocating for nature conservation. Their advocacy efforts now reached one of the most controversial industries, the crypto mining industry, which many criticize for consuming too much energy.
The CEO of SpaceX and Tesla, Elon Musk, invested $1.5 Billion in Bitcoin, and the price of crypto went sky-high. Now, billionaire Carl Icahn considers investing $1.5 Billion in Ethereum. Ironically, the amount of investment is the same in both cases. Can such investment trigger a bull run for Ethereum?
Elon Musk posted a tweet on the high energy consumption of Bitcoin (BTC), which caused a serious downtrend for most major cryptocurrencies including Ethereum (ETH), Binance Coin (BNB), XRP (XRP), Internet Computer (ICP), Polkadot (DOT) and Bitcoin Cash (BCH).
In the past 24 hours, Bitcoin had recorded a low of $54,071 and Dogecoin touched a low of $0.4213. Bitcoin dropped about 5% overnight on Monday. Generally, the entire cryptocurrency market has started to bear down, but influence from a few popular billionaires is trying to recover the market again.