News Opinion Columnists Bitcoin: Beware a cryptocurrency gold rush after Elon Musk's big investment – Jim Duffy I’m going to start off with a warning. The cryptocurrency was created as a parody in 2013, but it surged over 50% on Thursday after Elon Musk tweeted his support and it also had the attention of Reddit group SatoshiStreetBets in January. Back in 2018, Elon Musk owned only a small amount of cryptocurrency at 0.25 BTC. Elon Musk is no longer the richest person on the planet. Earlier this month, Tesla invested $1.5 billion in bitcoin which Tuesday rose to an all-time high of $50,000 for the first time. On Feb. 14, Musk expressed a desire to buy large amounts of Dogecoin to drive up its value. Tesla founder Elon Musk has sent the price of bitcoin soaring after the billionaire tagged the cryptocurrency in his Twitter bio on Friday.Musk’s move saw the price of bitcoin, which dipped below $30,000 (£21,880) earlier this week, soar nearly 19% to over $37,000 per bitcoin. What does this mean for the future of bitcoin and for Tesla? TESLA has bought $1.5 billion worth of bitcoin despite CEO Elon Musk recently describing the digital currency as "BS." With social media hype and big investment, the electric car company’s eccentric CEO is betting that the future is crypto. Mr Elon Musk has upended Wall Street over ... while other also raised the question of whether Mr Musk has been pumping the price of bitcoin while making a major investment in the cryptocurrency. Two days later he regretted not investing in cryptocurrency sooner. Elon Musk's car firm Tesla has said it bought about $1.5bn (£1.1bn) of the cryptocurrency Bitcoin in January and expects to start accepting it as payment in future. Musk Proposes Marscoin. Elon Musk took a stand in defense of Tesla investment in bitcoin (BTC). Simon Peters, cryptocurrency analyst at online investment platform eToro. Elon Musk and cryptocurrencies. Though his favourite is still Dogecoin, he also invested a lot in Bitcoin. Elon Musk, Tesla and SpaceX’s founder, is a well-known Dogecoin advocate – yet has revealed concerns about cryptocurrency. Bitcoin is fast approaching the US$50,000 mark afterglow of Elon Musk-led Tesla's investment in the cryptocurrency had investors reckoning it may become a mainstream asset class Elon Musk was one of the first prominent individuals to embrace cryptocurrencies. Alternately, he said, he could pay Dogecoin investors to void their accounts. Elon Musk has shown his liking for bitcoin cryptocurrency in the past, but that liking has now turned to a real-life investment. The California-based electric car maker headed by Musk revealed its investment in digital currency and other “alternative reserve assets” may grow, according to a US Securities and Exchange Commission filing. Musk himself, however, as an individual investor has a different relationship with Bitcoin investment. The investment news was confirmed by Tesla's 10-K report with the United States Securities and Exchange Commission (SEC) on Monday. Elon Musk’s Tesla recently invested US$1.5 billion in bitcoin and announced that the clean energy company intends to begin accepting the cryptocurrency as a form of payment. Elon Musk has expressed his regret for not investing in cryptocurrency earlier. Bitcoin hit a new all-time high early Friday after Tesla chief Elon Musk called the cryptocurrency “less dumb” than cash.. Gold bug and cryptocurrency critic Peter Schiff says Elon Musk used funds from his electric car company to buy Bitcoin and is pumping it to make profit. Elon Musk said that he supports major holders of the meme-based digital currency dogecoin selling most of their coins, adding that he felt too much concentration in … This means, Tesla’s investment has already resulted in good amount of profit. In a recent video of Musk being doorstop interviewed by fans on his way to dinner, Musk said there was a “good chance” cryptocurrency could be the “future currency of Earth” – but also warned about its volatile nature. Elon Musk of Tesla and SpaceX fame has hinted that he could develop a cryptocurrency, though the possibility remains uncertain. The CEO of Tesla has lost around $30 billion of wealth after the recent crash in Tesla stock and Bitcoin. Pure and simple. Bitcoin has hit record highs for a second day after Elon Musk's car company Tesla said it had bought about $1.5bn (£1.1bn) of the cryptocurrency. Tesla on Monday announced that it invested $1.5 billion in the cryptocurrency. Bitcoin gets Tesla boost; Anil Singhvi says Elon Musk investment to increase acceptance of cryptocurrency zeebizindia@gmail.com (Zee Business) 09-02-2021. Elon Musk has asked users to not spend all their life savings on cryptocurrency. In other words, people should not to go too far with crypto speculation. Tesla’s co-founder Elon Musk has tweeted that he is a supporter of cryptocurrencies such as bitcoin. The electric-car maker revealed on 8 February that the company holds nearly $1.5 billion worth of Bitcoin, … The clip is dated February 7, a day before Tesla announced its investment in Bitcoin. Tesla Inc (NASDAQ: TSLA) CEO Elon Musk's favorite cryptocurrency is not Bitcoin (BTC) but a meme-based cousin, which has a Shiba-Inu as its mascot. Well, the price is now risen by almost over 50%. Dogecoin (DOGE) was trading at around the 13 cent mark at press time on Wednesday night after a day of frothy price movements. Musk’s activity on the social media platform recently led to … Musk, in a video, asks his fans to consider cryptocurrency becoming the currency of the earth as speculation. The biggest price increase occurred between 28 and 30 January, where it increased by 7 times from AUD$0.01 to $0.07. In an interview with Bloomberg, Binance's CEO, Changpeng Zhao, said he was surprised by the billionaire's stance on dogecoin (DOGE) while he chooses to invest in another cryptocurrency. Tesla is widely considered to be the standard-bearer for the consumer electric vehicle industry and the broader climate tech movement rallying around it. The cryptocurrency price moves, while extreme, might make more sense than the gains for stocks such as Etsy, Shopify and GameStop that Musk casually mentioned (or perhaps joked about?) Whenever Elon Musk tweets about a cryptocurrency, the market seems to explode in little to no time. Sage advice. ... Elon Musk's mention of Dogecoin sent its value soaring, rising by $2 billion in the space of minutes. But his recent investment of $1.5 billion through Tesla made him one of the largest BTC holders globally. A new video of Elon Musk has surfaced, where he can be seen asking his fans not to invest their life savings in cryptocurrency. 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