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Elon Musk’s Tweet May Destabilize Crypto Market

 

Elon Musk has once again spoke about his cryptocurrency assets on twitter.

Elon musk’s impact on the crypto market cannot be over emphasized, With his tweets redirecting trends of several cryptocurrency market as well as singular coin movements.

Elon musk said “Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge,” Musk Tweeted. “They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.”

 

The CEO of tesla was asked about circulating rumor’s of his purchase of shiba inu, A dog based coin, He denied this claim irrespective of the cryptocurrency performing excellently in October and increasing at an estimate of 400%.

 

Elon Musk concluded that he still has a large amount Doge, Ethereum and Bitcoin. However he warned investors not to completely invest in crypto as the currency is not specifically designed for product and services.

As of 10:20BST, the price of Dogecoin was up 8% to $0.266581.

 

 

 

News Source: Rate Captain

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