The billionaire hopped back in the Twittersphere shortly after the launch of SpaceX Starlink satellites to not just talk briefly about the mission, but to also promote a cryptocurrency known as "Dogecoin."
Dogecoin is the people’s crypto.
With just three simple tweets, Musk had helped the value of Dogecoin raise by 50%.
Doge— Elon Musk (@Elon Musk)1612424135.0
The value of a single coin started at around 2 cents before the Tweets but shot all the way to just over 5 cents by early Thursday morning.
ur welcome https://t.co/e2KF57KLxb— Elon Musk (@Elon Musk)1612425450.0
The Guardian reports Dogecoin, which is branded by the famed shiba inu meme, started in 2013 as a joke after the invention of Bitcoin sparked a new wave of imitator cryptocurrencies, and the joke actually ended up catching on as the coin has reached a market cap of $6.4 billion.
Bitcoin also saw a huge rise in value after Musk gave his support last week on the popular Clubhouse audio chat app, causing the price of a single Bitcoin to rise above $38,000.