However, he had said he would shut down Twitter « for a while » … just two days ago. Elon Musk, the sulphurous boss of Tesla and SpaceX, raised the price of « Dogecoin » this Thursday after a series of tweets. Unknown to the public until then, this cryptocurrency rose as much as 60% on Thursday alone before falling a little.
Under a photo of the Starship SN9 prototype that crashed on landing Tuesday, Elon Musk tweeted simply: « Doge ». Afterwards, the head of SpaceX tweeted a meme representing him, like Rafiki in « The Lion King, » and held Simba in his arms under the mask of a Shiba Inu, the dog breed of Dogecoin. « Dogecoin is the people’s cryptocurrency, » he added, implying that anyone can own it.
He had already let Bitcoin jump
This is not the first time Elon Musk has promoted a cryptocurrency. A few days ago, the American published a reference to Bitcoin, the Holy Grail of cryptocurrencies, in his Twitter description. The price of the currency then skyrocketed from 25,000 euros on January 27 before the update on Twitter to 31,200 euros on February 3.
Choosing « Dogecoin » this time around, however, may seem strange. This cryptocurrency was created in 2013 and was created out of a hoax and has been used very little. « It’s a sign that claims it’s useless, » explains Claire Balva of blockchain partner BFM TV. « Unlike Bitcoin, it can be suitable for micropayments because the commission fees are lower, » she explains. Alexander Stachtchenko, co-founder of Blockchain Partner, even writes on Twitter: “Elon Musk is discrediting the entire cryptocurrency industry. « »