The world has witnessed many influential entrepreneurs over the years but no business magnate or tycoon comes close to the power commanded by Elon Musk’s voice.
Elon Musk has been the most influential entrepreneur shaping the future of humanity in the ways that we have only seen in sci-fi movies. However, for some time, Musk has been commanding an unimaginable influence on the present of the investment world. The power that the Tesla CEO holds is both interesting and dangerous. Just a tweet from Elon Musk can move markets today or change the fate of companies. The world waits with bated breath, for the future that Elon Musk is creating with his groundbreaking technology. But what’s happening on Twitter is increasingly becoming the source of investors’ stress.
Watch: How much Twitter power does Elon Musk have?
Here are 4 recent incidents where a single tweet from Musk made an unimaginable impact.
Musk’s Surprise for Signal App
After a tweet from Musk saying ‘use Signal’, the unnoticed encrypted messenger received millions of users in a day. So much so, that the server of the messenger crashed for a week. However, this is not all. There is another party who benefited from the tweet apparently due to just a confusion.
After the tweet, investors rushed to invest in the messenger. However, in the place of Signal messenger, the stock price of Signal advance grew drastically because of a similar name. Can you name something more influential than this? Wait until you finish.
GameStop Share rides on Musk tag
Buzz on WallStreetBets, a forum on Reddit, ended up in hyping the share price of GameStop, a brick-and-mortar store selling gaming equipment. For several weeks, the forum kept trending the hashtag #Gamestonk.
However, what provided major impetus to an unnoticed penny stock was the influence of Elon Musk. Following the trend, Elon Musk decided to tweet #gamestonk and just like that, the market lost its calm. Just within 24 hours of Musk’s tweet, the share price of GameStop was up by 60%. The share that had formerly traded at price as low as $5, suddenly hit the $347.
Not just this, the sub-Reddit ‘WallStreetBets’ forum also received 2 million subscribers hours after the tweet.
Elon Musk’s Dogecoin Teasers
The shiba inu meme-inspired cryptocurrency isn’t anything serious. At least before Elon Musk bought it for his son. Dogecoin was introduced in 2013 as a joke but people back then had no idea that a mere tweet in 2021 would turn the fate of a meme-currency.
Elon Musk shared with people that he had bought dogecoin for his nine-month-old son with singer Grimes so that he can be a toddler holder. Within a matter of hours, the total market valuation of the cryptocurrency amounted to a whopping $10 billion.
Even the founder of the dogecoin Billy Markus was left perplexed on witnessing an upsurge in the value that made no sense:”The idea of dogecoin being worth 8 cents is the same as GameStop being worth $325, it doesn’t make sense.“
Elon Musk’s Bitcoin Brigade
In the last week of January, Elon Musk mentioned #bitcoin in his Twitter bio. Needless to say, the value of the cryptocurrency skyrocketed within hours by 20%. This wasn’t all. Musk later announced that Tesla has invested $1.5 billion in bitcoin and that it also plans to accept bitcoin as the payment mode.
In the series of bitcoin and dogecoin tweets, the value of bitcoin further surged 7% after Musk tweeted the image of a bitcoin theme ring leading to the increasing the value of digital assets by $4000.
The relentless obsession of Elon Musk, the world’s most influential entrepreneur, has pushed bitcoin to staggering heights.