Bitcoin reached a record Tuesday above $48,000 after Tesla Inc. announce $1. 5 billion. This crowned Elon Musk’s years-long flirtation with cryptocurrencies, which basically took a position on Twitter memes, some of them moving in the market.
Tesla’s resolve to settle for Bitcoin as payment for its electric cars can integrate virtual currency into the mainstream of global finance.
However, its infamous volatility has led regulators to warn that investors can be eliminated.
Here are some moments in Tesla CEO’s enthusiasm for all cryptography-like topics.
November 2017
For many observers, it began when a shared blog post on virtual currency sites suggests that Musk is Satoshi Nakamoto, the mysterious founder of the cryptocurrency. The billionaire rejects the claim and says he forgot where he put his Bitcoin.
July 2020
Musk’s Twitter page is one of the few accounts that have been hacked to advertise a cryptographic scam. Investors were tricked into donating at least $120,000 in Bitcoin, which was supposedly devian to other accounts via hackers. a Florida high school and two others have been charged by the U. S. government for alleged hacking.
The billionaire tweeted that month: “Excuse me, I only sell Doge!” This is a reference to Dogecoin, a cryptocurrency that began as a joke in 2013 that presents a dog Shiba Inu as a pet.
Read | Everything you want to know about Tesla, Bitcoin and the cryptocurrency boom
December 2020
Musk questions the conversion of “big transactions” from Tesla’s balance sheet to Bitcoin, a verbal exchange on Twitter with Michael Saylor, CEO of MicroStrategy Inc. “Are such gigantic transactions possible?” Musk tweeted at the time.
January 2021
Dogecoin has become an obsession with retail investors, thanks in part to a Tweet from Musk appearing in a canopy of “Dogue” magazine. Although no explanation has been given, many users see this as a reference to Dogecoin.
January 29, 2021
Musk adds “#bitcoin” to his Twitter profile page, without explanation. In minutes, Bitcoin rose to 15%, exceeding $38,000, amid the hypothesis that it may be just a Bitcoin investor.
February 1, 2021
Speaking in the Social Audio Clubhouse app, Musk says he’s a Supporter of Bitcoin. “Bitcoin is a smart thing,” he said, adding that he arrived “late for the party” and bought the cryptocurrency eight years ago.
February 4, 2021
Musk breaks his self-imposed Twitter breakup and sends a series of tweets about Dogecoin: “No ups and downs, Doge,” he said.
February 8, 2021
Dogecoin reached a record after Musk and other celebrities Snoop Dogg and Gene Simmons tweeted about it.
February 8, 2021
Tesla announces a $1. 5 billion investment in Bitcoin and a plan to settle for virtual currency as a means of payment for electric cars. The value of Bitcoin has risen more than 20% from its point before the announcement.
The Dogecoin market now stands at around $10 billion, making it the tenth largest cryptocurrency, according to CoinMarketCap.
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