Elon Musk’s impact on crypto is like Caesar’s impact on salads. It’s ubiquitous and clear as a summer day in South Africa. The founder of Tesla and SpaceX has had a huge influence on the growth of Dogecoin as well as improving the mainstream recognition of cryptos like BTC and ETH.
Beyond what he does on Twitter, Elon has amassed 10,000 Bitcoins through Tesla, establishing himself and Tesla’s founders as the third largest public company holding BTC.
And finally pic.twitter.com/TcgwMSyjAy
— Elon Musk (@elonmusk) July 25, 2021
Tesla’s substantial $512 million stake in Bitcoin is only one way he’s impacting the markets.
Here are the many others:
Elon Musk’s Impact on Crypto: What Does Elon’s Crypto Portfolio Look Like?
Elon’s support for crypto has made it make sense for other companies to do the same with their extra cash.
As with Nvidia, they have so much liquidity that they can’t do anything with it except buy their own stock. Elon, along with MicroStrategy and others like BlackRock, have shown that investing in crypto is a good strategy for spending extra cash.
Musk started with crypto, as many others do these days: memes. Doge is still one of his largest holdings, and he is inarguably the biggest Dogecoin influencer on the planet.
Tesla’s diverse crypto portfolio includes three coins: Bitcoin, Dogecoin, and a bit of ETH (owned by Elon), signifying that Musk isn’t married to one coin, just the top ones.
Maybe the Next Dogecoin: Base Dawgz
Base Dawgz is stirring excitement as the next Dogecoin. Its presale raised over $1 million within the first week on the Base blockchain and is now at $2.5 million.
Recently, 99Bitcoin’s analysts made a multi-year price prediction for Base Dawgz:
- End of 2024: Predicted rise to $0.055 from the current $0.00502 in presale.
- End of 2025: Momentum expected to surge, potentially hitting $0.21 amid increasing multi-chain token adoption.
- End of 2030: Pioneering strategies like gaming integration and metaverse forays could propel DAWGZ to $0.70, positioning it as a major meme coin contender.
If you want to get into the next Dogecoin, Base Dawgz is one you don’t want to miss.
Get in Early to the Presale Now
Explore: 15 Best Decentralized Crypto Wallets for 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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