Elon Musk Is Back On Twitter To Promote Another Cryptocurrency
Elon Musk took to Twitter on Tuesday to announce he will be taking a break from the social media app, but that ended up not lasting very long.
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."
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Dogecoin is the people’s crypto.
Elon Musk
With just three simple tweets, Musk had helped the value of Dogecoin raise by 50%.
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.
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.