Welcome back dear loyal readers of Invest In The Stock, we are very satisfied and happy to have you here with us again. In today’s article we will talk about a form of financial investment that has been gaining ground lately, namely, Elon Musk cryptocurrencies.
We will see what they are, the main features and their value. Will it be trustworthy? Keep reading the article and you will find out the truth of everything.
Who is Elon Musk?
Let’s first start by seeing who Elon Musk is, the man behind the Crypto Musks.
First of all, Musk is an entrepreneur of South African origin, born in Pretoria on June 28, 1971, and naturalized in the United States.
After graduating from the University of Pennsylvania with a degree in economics and physics, he entered the world of work, founding an online payments company called X.com, which then merged with Confinity, giving birth to PayPal, which from there became a little the most used and known online payment system in the world.
Elon Musk Tesla
After this economic success, in 2003, he introduced his most important project to the international market, namely, the US automotive company that designs and manufactures new generation electric vehicles and engines, namely Tesla Motors.
This is to date, the only private company to launch a rocket into orbit, and the only one to have sent a spacecraft with attached docking, to the International Space Station.
He also holds the position of President of the SolarCity company, which produces products and services in the photovoltaic sector.
In 2022, his acquisition of about 9.2% of Twitter’s shares caused a lot of media hype, thus becoming the largest shareholder.
Albeit a few months later, he withdrew an earlier $44 billion offer to acquire the company, although he later completed the purchase.
During his career, Elon Musk entrepreneur has been awarded with many awards, according to the Forbes ranking of 2022, Elon Musk bitcoin prime turns out to be the richest man on the planet.
What is Bitcoin Musk?
Now let’s try to understand what Elon Musk Bitcoins are.
After the hashtag #Bitcoinmusk appeared on Twitter, many wondered what Bitcoin Musk Tesla actually is.
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Let’s start immediately by specifying that this is not a project that has to do with the founder of Tesla, and moreover, it doesn’t even specifically have to do with Bitcoins themselves.
On the contrary, it is a project that uses the name of Bitcoin and Musk, as a decoy, trying to attract the interest of potential investors.
Crypto Elon Musk
Consider that at this specific moment a new virtual token named BTCMUSK is in pre-sale, which is not yet tradable on the market.
It is therefore, as we said previously, a purely advertising initiative, which has the sole purpose of convincing people to buy their digital currency:
Passing it off as a cryptocurrency that is linked to Bitcoin and Musk
But that actually has nothing to do with the main cryptocurrency in the sector, much less with the CEO of Tesla.
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Elon Musk fake tokens?
To support this thesis is also the fact that the dedicated site is bare and with little information.
Since there is not even the blockchain through which their BTCMUSK token should be issued, which is already marketed trying to bring down someone who is not paying attention, perhaps hoping that they will get confused, associating this project with Elon Musk and cryptocurrencies.
Moreover, Elon Musk’s first name or the word Bitcoin is never directly reported on the site.
However, there are rumors on Twitter that the Bitcoin Musk smart contract has been tested and verified by a leading company in the crypto market.
But the truth is that none of this is said on the official website.
Elon cryptocurrency smart contract
For the uninitiated, smart contracts are real cryptocurrencies and must be public and verifiable by anyone.
So trying to keep it hidden would be hiding something.
Yet most of the tweets that talk about this topic openly say that it could be a scam in every sense.
An example above all is that of the obvious fake profile that appeared in the name of the singer Selena Gomez, where she was invited to invest in this virtual token.
Dogecoin and cryptocurrencies Elon Musk
Finally, let’s see what the repercussions of the acquisition of Twitter by Elon Musk were on the Italian bitcoin cryptocurrency DOGECOIN.
Since the Tesla CEO became owner of Twitter, the currency in question, or the DOGECOIN, has returned to rise, doubling its value in a few weeks.
Obviously, once things started to go the right way, especially in Twitter headquarters, they remembered that it was Elon Musk who made the DOGECOIN known, through a series of tweets featuring the meme of the Japanese breed dog Shiba Inu.
In addition to this, Elon Musk trading had tweeted the dog: a Shiba sitting in front of a Halloween pumpkin with a white flag with the iconic bird, symbol of Twitter, in the center, wrapping it.
Tesla platform Bitcoin and cryptocurrencies
As it soon became clear, the electric vehicle manufacturer, headed by Elon Musk and cryptocurrencies, has opened up to the use of cryptocurrencies to make payments on Tesla’s platforms.
But the real revolution that Musk wants to implement is to revolutionize the social media Twitter, transforming it into a sort of useful app, not only for chatting, but also for carrying out a whole series of things, such as:
- Place food orders
- Pay bills
- Make wire transfers
- Maybe rent a Tesla
Obviously all through digital payments, and for this reason, cryptocurrencies could have a favorable outlet from this type of setting.
In fact, DOGECOIN should be Twitter’s official trading currency and has thus seen its value increase exponentially.
Well dear friends of Invest in The Stock, now you understand what the discussed topic about Elon Musk cryptocurrencies is, scam or reality? What do you think?
Invest in The Stock, The Editors
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