Elon Musk was mainly born to the parentage of White South African parents living in Pretoria where he was brought up. He attended the University of Pretoria right before he went to Canada at age of 17 years acquiring citizenship through his then-Canadian mother. Some years later, he performed matriculation from Queen’s University and transferred to the University of Pennsylvania where he would receive a bachelor’s degree in Economics and Physics discipline. Then he moved to California in the year 1995 for attending Stanford University but then decided to instead pursue a business career path then co-creating the web software company named Zip2 with his brother Kimbal along. This startup was acquired by another company named Compaq for a whopping amount of $307 million in the year 1999. The very same year when Musk co-founded another online bank known
as X.com which merged with another company known as Confinity in the year 2000 to form ultimately the PayPal. This company was bought again by eBay in the following year 2002 for another whopping 1.5 billion dollars.
Crypto:
Elon Musk has always promoted cryptocurrencies and continues supporting them over traditional currencies. Given the stature of Musk’s tweets on shifting the cryptocurrency markets and his statements across all the cryptocurrencies have been seen as market manipulation techniques by many such as the famous economist Nouriel Roubini alike. Elon Musk’s social media praise of Bitcoin and Dogecoin was also credited for increasing their values. Resultingly, Tesla’s 2021 announcement that it had bought over $1.5 billion worth of Bitcoins raised eyebrows against the behavior of Musk’s social media page. Tesla’s announcement that it is going to accept Bitcoins for purchases was also criticized by environmentalists and investors alike due to the environmental hazards of cryptocurrency mining techniques; in the year 2021, the energy consumption required for mining Bitcoin was due to built-in energy inefficiency maxed that of Argentina state. Sometime later, responding to the criticism, Elon Musk added on Twitter that Tesla will not accept Bitcoin and would not pursue any Bitcoin transactions until the environment’s issues are resolved.
His views:
With the whole cryptocurrency market currently going up and major crypto companies becoming giants one could think that Elon Musk may reflect on some of his current statements with more than conviction. After all, Elon Musk is a big propagator of cryptocurrencies.
He never said that people should be investing in crypto, Elon Musk told the people during one of his virtual interviews at the Qatar Economic Forum when he was asked about the present situation of cryptocurrency.
More insight:
Elon Musk also added that In the case of Tesla, SpaceX, or himself, they all did buy some crypto but it is a small amount of our total net worth assets.
This does appear valid technically as Musk does not have ever said the words that
people should be investing in crypto or any similar straightforward investment recommendations regarding these currencies.
So then where would people derive the idea for investing in these currencies because of Elon Musk?
Elon Musk sure has a lot to say about these currencies over the following years and some of what’s said has been promotional so much that it would be easy to acknowledge how would some may think that Musk is offering investments advisory council Or at less hinting at such things.
His crypto investments:
If all leading cryptocurrencies become solvent, Tesla CEO Elon Musk would have said that he will keep buying Dogecoin, a cryptocurrency he has been promoting for quite some time.
During the ‘crypto winter’, the Dogecoin currency tumbled from $0.74 to just $0.05 in recent times.
In another tweet published on Sunday, Elon Musk said that he would keep supporting Dogecoin
In reaction to a follower who asked him for the same, Elon Musk said that he will keep buying these cryptocurrencies.
Another Called the Doge-father, Elon Musk has been a propagator of Dogecoin and tweeted many times before to help grow the price of these digital tokens.
Last week, a Dogecoin investor in America sued Musk plus Tesla, and SpaceX for an amount of $258 billion for operating a racketeering enterprise for inflation of Dogecoin.
This class action lawsuit got filed in a federal court and the Dogecoin investor pressed for triple damages worth $86 billion which is how much the complainant alleged lost by Dogecoin investors because Mush tweeted about them.
Earlier at the start of the year, Musk said that the corporation’s supercharging stations will also accept Dogecoin as currency.
Tesla to this day accepts Dogecoin in online stores and there has been news of Tesla accepting the crypto as payment for its vehicles too.
Elon Musk has a sizeable personal investment in Bitcoin on top of Tesla’s fundings and he owns a smaller number of Ethereum and Dogecoin.
Conclusion:
Crypto is the future of digital currency whether governments see them as a threat or people think of them as scams but times are changing and crypto must be the new trend that the world will someday follow in each and every step.
