Elon musk has been quite the controversial icon throughout the crypto community. On one hand, he has been responsible for stimulating the crypto market significantly. He also been responsible for the eventual legitimacy that crypto has eventually received.
On the other hand, the smallest mention of a crypto by musk sends the market into a frenzy. This frenzy can often leave smaller coins in a difficult position, as all potential investors will now move to invest in the new hot token. And the most recent examples of his influence was when the coin Floki rose by an enormous 150%. Of course, the alt coin Floki was not the only one to rise by that percentage. Another cryptocurrency by the name of Super Floki also rose by 150%.
Through his influence, Dogecoin and Bitcoin have risen by extreme amounts in various occasions. His support for the joke currency Dogecoin also got him the name Dogefather, as he still has faith in it. And once when he mentioned that he might allow Bitcoin again, the prices skyrocketed.
The Shiba Inu Doge meme influenced Dogecoin when it started back in 2013. While it did certainly start as a joke, it eventually became a serious endeavor when it fought through the storms of the early crypto days. Even Musk’s son holds a share of Dogecoin, making him the world’s first Toddler Holder. In fact, The Dogefather has such high hopes for the cryptocurrency that he believes it can become the native currency of the internet. He also believes that it can be the currency of choice for a colony on Mars in the near future.
The self proclaimed “meme connoisseur” even spoke to clubhouse about cryptocurrencies. He specifically talked about Dogecoin and the many controversial aspects of the market. He specifically said that he likes to poke fun at the industry on rare occasions, and that what he says on twitter should be treated as a joke.
He further continued that the most entertaining outcome would be the most ironic. And the most ironic outcome would be that cryptocurrencies like Dogecoin become the native currency throughout the world in the near future.
Elon Musk is one of the top two richest people in the world, with him trading places with Billionaire Jeff Bezos. But remarkably, unlike Jeff Bezos, Musk has very few investments outside of SpaceX and Tesla. His other claimed assets include Bitcoin, Ethereum, and Dogecoin. Considering these facts, it is quite remarkable that he is one of the top two richest people in the world without having as many companies or assets under his belt.