Elon Musk is the CEO of Tesla and of SpaceX, has plans to colonize Mars, is taking on enormous industries and thinks that artificial intelligence may surpass human intelligence and accelerate at an incomprehensible rate.
But beyond the hype, Elon Musk thinks and acts on a larger scale than we’re used to from entrepreneurs. Every tweet and every word said by Musk is moving markets and making investors and traders worried about what might be his next move.
In february Bitcoin’s value jumped more than 20% to $38,566 after he has changed his personal Twitter bio to #bitcoin, fueling speculation that he might have bought more of the cryptocurrency.
— Elon Musk (@elonmusk) January 7, 2021
Right after that, the Signal app was downloaded almost 1.3 million times on Jan. 11, according to data from Apptopia, a tracking firm.
He did it again this weekend. His appearance on ‘SNL’ on Saturday night did not do well for Dogecoin. The billionaire jokingly called the virtual currency a “hustle” causing the price of Dogecoin to tumble by as much as a third on Sunday.
This only illustrates the significant impact Elon Musk can have on markets. He’s changing fortune of a company with just one tweet, just one word, just one joke.