2021-02-05 Musk’s Doge, Bitcoin Tweets May Spur Double-Digit Returns

[blacky90]

Billionaire and Tesla's head Elon Musk’s Twitter activity is not only stirring controversy, but it also triggers abnormal trading volumes and double-digit returns, according to a recent paper by the Blockchain Research Lab (BRL).

Musk, owner of a Twitter account with 45.5m followers, continues to move markets through his never-ending stream of opinions on the social media, pushing dogecoin (DOGE) upwards after calling it the “people’s crypto”, in his spare time between launching rockets into space and becoming the richest person on the planet.

However, Lennart Ante, a BRL researcher who hails from the University of Hamburg, studied six recent crypto-related Twitter events by Tesla’s CEO (two about bitcoin (BTC) and four about DOGE), posted in 2020 and 2021, attempting to measure the impact Musk's social media activity exerts on cryptocurrency trade.

https://cryptonews.com/news/musk-s-doge-bitcoin-tweets-may-spur-double-digit-returns-rep-9141.htm

[cr1776]

The entire dogecoin stuff is fine for a humorous, fun thing, but (at least when it started) it was a continually inflating coin so it is a terrible store of value for the long term.  I don't have a problem with dogecoin, it just isn't someplace smart to hold money long term.

I said it in another thread, but Tesla's bitcoin purchase tells us everything one needs to know:  money talks, dogecoin walks.

[Karartma1]

The entire dogecoin stuff is fine for a humorous, fun thing, but (at least when it started) it was a continually inflating coin so it is a terrible store of value for the long term.  I don't have a problem with dogecoin, it just isn't someplace smart to hold money long term.

I said it in another thread, but Tesla's bitcoin purchase tells us everything one needs to know:  money talks, dogecoin walks.

Better he pumped Doge instead of some other crappy shitcoin. Do you know what I think? Now that he went public about Tesla (your money talks) he went on trolling the world about Dogecoin. This is a simbolic take: he's too smart to not knowing that doge is a joke and by choosing bitcoin as the real asset he's basically showing the truth of what he thinks to the rest of the world. There's nothing like bitcoin, that's what he's sayin'
Nice one Elon!