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Elon Musk Taps Crypto as the Future of Currency on Earth - BeInCrypto

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We use cookies to improve your experience.AcceptBy7 February 2021, 19:15 GMT+0000Updated by7 February 2021, 19:15 GMT+0000In BriefTesla CEO Elon Musk thinks there’s “a good chance” cryptocurrencies will be the future of money on Earth.Elon Musk, the world’s richest man, said in a video recorded by The Hollywood Fix that “there’s a good chance cryptocurrency is the future currency of Earth”.Further,, which lasted under two minutes, the eccentric billionaire went on to suggest it could easily be several cryptocurrencies that see mass adoption.His words were followed by candid advice not to over-speculate in the cryptocurrency market.SponsoredSponsored“But it should be considered speculation at this point. And, so, don’t go too far on the crypto-speculation front”Elon Musk – Tesla CEOThe comments come as (BTC) regained momentum yesterday. This saw the top-cryptocurrency push towards $41,000 in a determined attempt to set a new all-time high.The top cryptocurrency $37,992.84.Despite the words of warning, Musk is not shy about his endorsement of the cryptocurrency space. In an event “inevitable”, the billionaire changed his Twitter bio to “#bitcoin”.SponsoredSponsoredThis the top cryptocurrency to rally, breaking weeks of inactivity.Musk also “supports” the cryptocurrency world’s favorite canine-themed token; (DOGE). The billionaire regularly tweets DOGE-related memes to his followers on Twitter, including .A tweet on Dec. 20 last year, in which Musk : “One word: Doge”, gave the meme-coin a surprisingly large boost, climbing over 100%.SponsoredSponsoredThe billionaire’s tweets’ effect on the cryptocurrency market by the Blockchain Research Lab (BRL). In it, researchers found that on two occasions, Musk’s tweets led to “significant abnormal returns” for both Bitcoin (BTC) and DOGE.However, it also warned of the impact influencers have on prices in the cryptocurrency market.Nevertheless, support is growing for the industry. If not already demonstrated by the space’s $1.2 trillion valuation, then just look at the speed and size of new entrants.SponsoredSponsoredThe U.S. Federal Reserve for its FedNow instant payment services. The pilot scheme includes a number of innovators, including Ripple () partner Volante Technologies.Moreover, both Visa and PayPal in the scene, with the latter recently allowing users to trade cryptocurrencies on its platform. This resulted in just days after the new feature’s launch.As, the market heats up once more, expect more such launches and more Elon tweets.All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.SponsoredJoin our and get trading signals, a free trading course and daily communication with crypto fans!WE’VE GOT YOU COVERED!Bitcoin BasicsNFTsTradingInvesting

We use cookies to improve your experience.AcceptBy7 February 2021, 19:15 GMT+0000Updated by7 February 2021, 19:15 GMT+0000In BriefTesla CEO Elon Musk thinks there’s “a good chance” cryptocurrencies will be the future of money on Earth.Elon Musk, the world’s richest man, said in a video recorded by The Hollywood Fix that “there’s a good chance cryptocurrency is the future currency of Earth”.Further,, which lasted under two minutes, the eccentric billionaire went on to suggest it could easily be several cryptocurrencies that see mass adoption.His words were followed by candid advice not to...

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Elon Musk Taps Crypto as the Future of Currency on Earth - BeInCrypto

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