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As Elon Musk announces his new favorite currency, netizens go into a frenzy

The cryptocurrency market increased by 11,000% the last time Musk tweeted about Dogecoin

Elon Musk’s tweets about SpaceX and Tesla might just end with a full stop and go viral. It will attract fans who will try to decipher the cryptic message that it conveys. You can’t really blame them, can you? The cryptocurrency market has been influenced by Musk’s tweets recently because he is an influential man.

Recently he tweeted, “Time is the ultimate currency,” and the tweet caused netizens to scratch their heads in order to understand its meaning. Over 61,000 people retweeted Musk’s tweet, which has racked up over 3.7 lakh likes.

Musk mentioned the cryptocurrency Dogecoin previously, which in reality began as a joke but experienced an 110% rise in the market, enticing everyone to invest in it.

Businessmen who commented on the tweet included Kunal Shah, CEO of CRED which said: “Entropy is the only truth.” Several others also linked the tweet with the 2011 sci-fi film ‘In Time’ starring Amanda Seyfried and Justin Timberlake. There is a currency of time in the film.

Investors in the stock market pay attention to Musk’s tweets because he has always been an influential figure in the field. Musk once tweeted that Bitcoin could be exchanged for Tesla, prompting a dramatic rise in the price of the cryptocurrency.

Richard Branson, the owner of Virgin Galactic, and Jeff Bezos, founder of Amazon, are his competitors.

Investors in the stock market pay attention to Musk’s tweets because he has always been an influential figure in the field. Musk once tweeted that he would accept Bitcoin for Tesla, and the price of the cryptocurrency skyrocketed overnight.

Richard Branson, the owner of Virgin Galactic, and Jeff Bezos, founder of Amazon, are his competitors.

Written by IOI

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