Elon Musk’s history of hyping crypto - can you trust him?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today, let’s take a look at one of the most popular crypto influencers ever - none other than Tesla-founder Elon Musk. And the question is: Should you listen to him?

Musk has a long history of hyping crypto, in particular Bitcoin and Dogecoin. He tweeted about Bitcoin first in 2014 and has since raved about Dogecoin quite often as well. He’s also made some big moves with Tesla: The company bought $1.5bn dollars worth of Bitcoin in 2019 and even said customers would soon be able to buy cars with crypto.

But here is the strange thing about Musk: What he claims and what is actually happening are often two different things. Tesla ditched their Bitcoin holdings quickly thereafter, and the only thing Dogecoin buys to date are Tesla T-shirts.

You see, Musk has one of the most followed Twitter accounts on earth and seems to rarely filter his tweets. That’s why we wouldn’t give them too much weight; we would rather suggest you do your own research. Bitcoin and Dogecoin for example are both bad for the planet - strange for an electric car guru to promote.

Best to ignore the opinions of influencers, and develop your own! Stay tuned for our launch on Wednesday, because we’ll help you do exactly that!

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.