Why Elon Musk Tweets Affect On Crypto?

Why Elon Musk Tweets Affect On Crypto?


Elon Musk dominated the cryptocurrency industry in 2021.

Elon's tweets regarding Dogecoin boosted prices by 50%. The Bitcoin price action was once influenced by the world's richest man.

Three of Musk's most influential tweets

tweets about DOGE, propelling the price up 10% in an hour and 50% in a day.

“You can now buy a Tesla with bitcoin”

Musk stated that Tesla will accept DOGE for items on Dec. 14. The price soared 43% in two hours.

Tesla ultimately joined the bitcoin discourse, and Tesla influenced the spring price movement.

Tesla's BTC purchase, acceptance as payment, selling of BTC holdings, and termination as a payment mechanism damaged the market, aggravating crypto volatility.

Musk stated in 2018 that he would take his electric car venture private and had "money secured."