FOX Business’s Stuart Varney suggests that Tesla buy $ 1.5 billion in bitcoin and accept it as payment for cars.
Tesla CEO Elon Musk said on Wednesday that he bought Dogecoin, a hot cryptocurrency, for his baby “so he can be an infant hodler”.
| Ticker | Safety | Last | To change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 804.82 | -44.64 | -5.26% |
Musk was a supporter of cryptocurrency, which was created as a joke in 2013 based on a popular internet meme, but which has risen to the tenth virtual currency in the past few days, according to data from CoinMarketCap.com.
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“I bought Dogecoin for lil X, so he can be a drunk,” Musk tweeted on Wednesday.
Musk tweeted a survey last week that received 2.4 million responses asking users whether the “future currency on Earth” would be Dogecoin or “all other cryptography combined.” More than 70% of respondents chose Dogecoin.
“The people spoke,” Musk said as soon as the search ended.
The billionaire has already tweeted about Dogecoin, including a 2019 tweet in which he referred to him as his “favorite cryptocurrency”. Musk also expressed interest in other cryptocurrencies, including bitcoin. Tesla said in a SEC file on Monday that the company had invested $ 1.5 billion in bitcoin and would start accepting it as a form of payment.
After Elon Musk added #bitcoin to his Twitter bio, the price of the cryptocurrency rose briefly by about 20% on February 5.
| Ticker | Safety | Last | To change | Change % |
|---|---|---|---|---|
| BTC | n / a | n / a | n / a | n / a |
“Right now, I think bitcoin is a good thing and I’m an advocate of bitcoin,” said Musk during a live interview on the popular audio chat app Club House on Sunday. “A lot of my friends tried to convince me to get involved with bitcoin for a long time.”
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Musk added, “I think bitcoin is really about to get wide acceptance by mainstream finance people.”
The founder of SpaceX explained that a friend offered him a slice of “bitcoin cake” in 2013.
Billionaire investor Mark Cuban also released a statement on Monday saying he also bought the cryptocurrency for his son.
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“Dogecoin costs less than ten cents. You can buy [$1.00] worth or [$10.00 worth and] have fun watching it all day, every day, “he said in response to a question about whether investing in Dogecoin is a” bad look “.” Literally, and I say this seriously, it is the best return on entertainment available. “
Dallas Mavericks owner Mark Cuban takes the stage before an NBA basketball press conference in Dallas. (AP Photo / Ron Jenkins, Archive)
He continued, “I bought my son a few dollars and we watched and discussed all price movements when they occur. It’s fun, it’s exciting and educational for him. Some of his friends have also been involved in this.”
Cuban then clarified that, although Dogecoin has no “intrinsic value”, it “gives you a better chance of winning than a lottery ticket” while teaching the economics of supply and demand and introducing people to cryptographic assets .
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The cryptocurrency’s market capitalization doubled last week to more than $ 9.5 billion, according to CoinMarketCap.
Praises for Musk’s cryptocurrency and other celebrities come about two weeks after a group of Reddit users got together and asked people to buy short sellers by investing in shares in falling companies, including GameStop; AMC; Bed, bathroom and more; and Blackberry, causing their inventories to increase unexpectedly.
The event opened up a discussion on how amateur investors can influence the market and how day trading rules can be reformed.
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Lucas Manfredi of FOX Business contributed to this report.