- Elon Musk is an influential figure on the social media platform Twitter. Since 2011, he has tweeted changes in Tesla’s stock price nearly 400 times.
- Tesla’s CEO has caused big moves, especially in cryptocurrencies such as bitcoin and dogecoin.
- Recently, a poll on twitter that read “Dogecoin to the Moooonn” sent the crypto soaring by 35%.
Elon Musk was named Person of the Year by Time magazine, in large part due to his influence over financial markets.
One of the main ways they’ve grown is through Twitter
Elon Musk, the TechX executive over at Tesla, has been known for his moments of brilliance that inspire laughter from investors. His energetic response to market fluctuations and informing the public about company updates also endears him to followers with a sense of humor.
Here are twelve of his most influential tweets from the past year, grouped by month.
GameStop shares were at the height of mania on January 26, while Musk tweeted just one-word “Gamestonk!!” linking to Wall Street Bets, a popular subreddit that had supported GameStop.
He has been sending various tweets about dogecoin which were able to cause its price to rally. These tweets include a tweet from Feb 5, 2021 that read ‘Dogecoin to the Moooonn,’ following this tweet the price of dogecoin went up by 35%.
Elon Musk tweeted his plans to sell an NFT which quickly backfired, but he also mentioned that people could buy Teslas with Bitcoin. When this happened, the price of Bitcoin rose.
He likes to call himself the “dogefather” and had a really successful tweet that got him to host Saturday Night Live. He also had endorsements from billionaire investor Mark Cuban that helped push dogecoin’s price way up.
Plans to accept bitcoin were scrapped after two months, as the CEO explained that the potential benefits didn’t outway the risks. For example, mining would need a lot of energy and produce a lot of CO2. The U-turn from Tesla triggered a slump in their stock and the cryptocurrency market as a whole.
Since June, the price of bitcoin has been rising steadily after Elon Musk tweeted that Tesla will accept it once they have a 50% or higher percentage of renewable energy.
His sway over market trends has been declining recently and he’s stayed away from making any significant tweets for the past few months. He did post a meme about Dogecoin, though: “Dogecoin is money.”
Elon Musk has been vocal in his support for dogecoin. Lately, he responded to a tweet from Cuban on Twitter by saying, “I’ve been saying this for a while.”
In September, Elon Musk tweeted that dogecoin fees need to drop for it to make a good payment option. This tweet came after AMC seemed to be considering accepting Dogecoin but has since retracted their comment.
Shiba Inu is a type of dog that lives in Japan. This specific species began a sudden surge in late October after Elon Musk tweeted a photo of his new Japanese pup named “Floki,” without any mention of crypto holdings. He later explained he only had investments in bitcoin, ether, and dogecoin.
Tesla stock fell in November due to an earlier Twitter post by Musk asking “if he should sell 10% of his stake” The poll showed that over half of the votes were yes.
Back in December, he sold Tesla shares to reach his goal of being a minority shareholder and said that he would pay $11 Billion in taxes. In an interview with Time Magazine, he said that markets are unpredictable so his actions don’t have much of an effect.