CryptocurrencyPartner content

Born in Pretoria, South Africa during the tumultuous years of the 70s in a country widely divided, Elon Musk had plans to leave and start a life on his own, in America. The politics of the country in which he was born did not breed for much development and innovation in the sphere of technology, a direction Musk was interested in from his young years. His first stint in Canada paved his journey into America and since then, he has been at the forefront of innovation in tech, space, automobiles, social media and cryptocurrency.

The focus of this article will be on Elon Musk and cryptocurrency and seeing that you now know a little bit of Musk’s history, it makes sense to share some vital information regarding cryptocurrency.

The Intricate World of Investments

To understand Musk’s impact on investments in general, you first need to understand what crypto is from an expert’s perspective, such as CoinDesk.

Seeing as CoinDesk is a news site specializing in Bitcoin and digital currencies, they’re the go-to information site for crypto news. A cryptocurrency is a digital currency that does not depend on a government or bank but that moves independently through a public ledger. Many industries are using crypto, from hotel industries to online casino industries. The latter would do well with it since they offer an abundance of slot machines and other exciting digital games. Some online casino games do not accept crypto but others do, so it’s up to the player to decide where the investment is made. Just like it is up to Musk to decide where he wants to invest his funds.

The Interests of Musk

One avenue that Musk is very interested in is cryptocurrencies. To fully understand this topic, you need to know the first ever one created, which is called Bitcoin. It was introduced in 2009 by an unknown source under the pseudonym of Satoshi Nakamoto. Gaining traction immediately and largely ungoverned by countries’ financial institutions, it was a great way for people to fly under the radar when making payments or saving money.

Elon’s hand is in multiple avenues, from cars to space to social media to cryptocurrencies. He created some of the biggest companies such as Tesla and SpaceX and even bought X, formally known as Twitter. Moreover, the fact that Musk dove into cryptocurrency with such aggression and interest has given rise to more of the general public becoming more interested in it too. This digital currency used to be a thing that only those deeply invested in finances and who were technically inclined would spend time understanding. People now use this digital currency for the most interesting things, some saying that they use their earnings to fund every single one of their business trips and others using it simply to save.

Just like many others, Musk enjoys the idea of taking risks and taking a chance to potentially win big. There are excellent platforms, such as piggy riches megaways, which is an exciting game and opportunity for punters interested in online gambling to take part in. You can play using a dolled-up lady pig to win free spin features or play with the Gentleman Pig to partake in fun gaming, making for a thrilling experience. So if you are interested in playing a game of luck, this could be a great step toward understanding the idea behind taking a chance before diving into the market of cryptocurrencies.

Furthermore, some people even take it to the next level by merging crypto and online gaming, with punters looking forward to their anonymity and lack of governmental regulation around making transactions from crypto to online casinos. Not to mention the increased speed these have over traditional payment methods.

Elon Musks’s Impact

As the CEO is Tesla and SpaceX and owning X (formerly known as Twitter), Musk has both a huge impact and read on what people think about automobiles, space travel and communication. With more than half a billion users on X and 164 million of those following Elon Musk, it is clear to understand that he has a massive impact on any topic he mentions.

One topic that he speaks about often and does not hold back on is cryptocurrency, specifically Bitcoin and Dogecoin. Musk’s comments on Bitcoin, for example, have had a large impact on the success of that currency. With no one taking ownership of the currency, people look to other experts in finances to gain understanding. As a billionaire and genius, naturally people will gravitate toward what Musk says. If one day he says ‘invest’, guess what? People will take his advice and do so, if he shares a thought against Bitcoin, people will immediately sell. This creates a very volatile market place and with cryptocurrency being notorious for its natural volatility, Musk adding gas to the fire is a precarious situation for investors, as they always need to keep an eye on a massive game player in the success of Bitcoin, Elon Musk.

Regarding Dogecoin, it is true that Musk has announced that he has been secretly funding the competitor to Bitcoin. It is an open-source peer-to-peer digital currency that was created in 2013 by Billy Markus and Jackson Palmer. It is famous for being born out of a joke. The two software engineers wanted to poke fun at the rising popularity of cryptos and created a ‘meme coin’ based on a meme of a dog. Now, however, it is being funded by heavyweights such as Musk, making it much less of a joke. Although it is a struggling currency and one that has reduced in value greatly, who knows what will become of Dogecoin with Musk behind it?

A Future Analysis

Whether Musk will continue to have such a large impact on the world of crypto is unknown. It is impossible to look into the future and see whether Musk will always have such a stronghold on the popularity of certain things, such as automobiles or currencies. All that can be observed is the fact that Musk seems to show no signs of slowing down.

With his investment in X in 2022 and renaming in 2023, both of which are recent developments, this shows that Elon seems to be as interested as ever in captivating an audience with his highly advanced accomplishments. You also can’t forget that with his hands in automobiles, space and massive communication platforms, he is funneling mass amounts of money too. He invests in, so he knows exactly what he is doing when he makes investors buy or sell stocks and is sure to benefit his pocket the most at the end of the day, making him his kind of superpower or ‘Tony Stark’, the brilliant and powerful genius from the Avengers franchise.

The future of his investments is all intertwined. His next SpaceX mission to get the Dogecoin Funded SpacX ‘Doge-1’ Moon mission is well on the way. This supports the argument and prediction from above, Musk cleverly combines his endeavors so that they benefit one another. He knows his investment in Dogecoin will give rise to more people investing in it as they see him as an intelligent and trustworthy figure. Therefore, he uses his power to fund many of his projects. A fact that cannot be denied but he does seem to be doing it in the hopes of building a brighter, better and greener future, making it even more impressive. Knowing what the future will hold is tough to see now but one thing is for sure, be sure to keep a stern eye on Musk as he is leading most of the innovation in today’s world or he at least has his hand in most of it.