A few years ago, he said he was not optimistic, and now he calls himself "the father of dogecoin". No one knows Musk's mental journey. But in any case, he may be the only one who has become the richest man in the world by speculating in coins.
Twitter speculation
Musk's words directly caused Bitcoin to lose $65,438+00,000. In the early morning of May 13, Beijing time, at 202 1, Musk announced on social media that Tesla had suspended accepting bitcoin payments.
This is less than two months since Tesla announced that it will accept bitcoin payment. On March 24th, according to the news of Tesla official website, the purchase of Tesla cars supports the use of bitcoin for payment.
Due to Musk's great influence in the field of cryptocurrency, the news triggered a huge earthquake in the cryptocurrency market. Bitcoin prices fell rapidly, exceeding 10000 USD for a short time, hitting a low of 45,500 USD, falling by more than 10000 USD compared with the intraday high, and falling by nearly 15.29% in 24 hours.
Password money has plummeted collectively, and many people's dreams of getting rich have been shattered. According to the data of Bitcoin House, more than 300,000 people broke positions in the past day, and more than $4 billion went up in smoke.
This is not the first time that Musk has "turned against the water", and so is his "new love" dogecoin. As a kind of cryptocurrency, Dogecoin is especially favored by Musk and has made public statements many times. On April Fool's Day at 1, Musk also announced that his space exploration technology company would send a dog rope to the moon.
With the help of Musk, dogecoin, who was born as a joke, went from obscurity to "chicken and dog ascend to heaven" in one fell swoop, and the increase has soared to an astonishing 12000% this year. However, in a program a few days ago, Musk changed his mind and agreed to call Doecoin a "scam", and Doecoin plummeted by nearly 40%.
In addition to his own dogecoin, Musk is also interested in Shiba Inu coins. In mid-March this year, Musk posted on social media that he wanted to raise a Shiba Inu for his family, and then the Shiba Inu currency suddenly skyrocketed. At present, the popularity of Shiba Inu has surpassed dogecoin and become the second star in the currency circle.
As of May 9, the daily trading volume of Shiba Inu coins reached 40.3 billion yuan, soaring 1, 297.64%, and the market value soared by 359,438+0%. The fiery market once caused major trading platforms to suffer a short downtime.
Where does love come from?
"Dreamer" and "Technology Madman" are the early designs of Musk, and "Coin Speculator" seems to be a little far away from them. As a pioneer in the technology circle, Musk's way of "Twitter hype" is somewhat different.
Musk, who suddenly speculated on coins, also surprised everyone. After all, as early as two years ago, he said that he didn't invest in anything, and the only public securities he owned were his own Tesla shares.
But all this seems to be traceable. From 65438 to 0999, Musk co-founded From, an online financial service and e-mail payment company, which was the predecessor of PayPal and one of the earliest online payment processing companies in the world. Many people believe that it is this kind of attempt that makes Musk inevitably start to get involved in cryptocurrency.
The relationship between Musk and Bitcoin can be traced back to 20 14 10. In an interview with a corporate summit, Musk called Bitcoin a "good thing", although it may be mainly used for illegal transactions.
What caused the biggest fluctuation was that on June 29th this year, 65438+ changed his Twitter profile to Bitcoin, which directly caused the price of Bitcoin to rise by more than 14% in half an hour. Nine days later, according to a document submitted by Tesla to the US SEC, Tesla has purchased bitcoin worth $654.38+05 billion.
In the following February, Musk mentioned "dogecoin" six times in one day on Twitter, and then the price of this cryptocurrency rose rapidly by 60%, with a market value of 654.38+00 billion US dollars, making it the eighth cryptocurrency in the world.
Interestingly, as early as 20 17, when a bitcoin was only worth $9,000, a former space exploration technology company intern suggested that Musk might be the mysterious inventor of Bitcoin, Satoshi Nakamoto. However, Musk quickly denied this statement and revealed that he only held a small amount of bitcoin that his friend had previously transferred to him.
On the other hand, there is also a realistic connection behind Musk's support for Bitcoin. Musk, Bitcoin and Cathie Wood, the queen of technology who has long been optimistic about Bitcoin, can be described as the three major online celebrities in the United States in the past year, and their relationship is also closely linked.
As the chief investment officer, "Mu Jie" was one of the first institutional investors to buy both Tesla and Bitcoin. "Mu Jie" sees more bitcoin, Musk supports bitcoin, and Tesla buys bitcoin crazily. In the past few months, the correlation between the three has increased significantly.
Faith or game?
"Success requires details, and wealth requires adventure." As an adventurer, Musk seems to be supported and embraced by more and more people. For the 53.83 million fans on Musk's Twitter, Musk is not only the CEO of a technology company, but the weather vane that guides them to get rich.
More crazy fans have long been not limited to "making money", but have risen to a cult of personality. They are willing to contribute their own strength to Musk, including maintaining the order of comments under Musk's Twitter, writing songs for Musk, and even setting up special festivals for Musk.
As Musk's voice becomes louder and louder, there are more and more "faith fighters" who follow him. According to a recent study by Piplsay, a global consumer research platform, more than 1/3 of American adults have invested or considered investing according to Musk's tweets.
Some people think that the reason for this reaction is that cryptocurrency is far more conducive to centralization than real currency because of the virtual nature of the network. Now Musk can make quite a splash by sending a few tweets casually.
However, the ever-changing market also made some investors tired of following this trend, and felt that his inconsistency greatly reduced his influence, and his credit in the encrypted digital currency market dropped sharply.
David Portnoy, an American online celebrity stock trader, released a video, angrily denouncing Musk's suppression of Bitcoin and raising dogecoin.
"elon musk just wants to suppress Bitcoin," Portnoy said in the video. It was this Musk who put Bitcoin on Tesla's spreadsheet and balance sheet so that Tesla could show its profits at the end of the quarter. Now because they don't sell cars, Bitcoin suddenly goes bad. "
Portnoy also strongly criticized Musk's capriciousness. "One second you said you wanted to buy something, and the next you didn't want to. This is playing with people's future and destiny. "