There is rarely anyone who is not familiar with the name of the world’s richest person Elon Musk. The 51-year-old business magnate and the CEO of Tesla were recently in the news after he proposed his desire to acquire microblogging and social networking platform Twitter. However, later Musk reversed his decision and is currently fighting a lawsuit with Twitter owner Jack Dorsey on that deal. Regarding cryptocurrencies, Elon Musk has shown his support for various digital coins such as Dogecoin and others. Musk has too many followers on social media platforms, and a single tweet by him gets widespread coverage in media channels distributed across the world.
With a net worth of approximately $228 billion, Elon Musk has held the title of the world’s richest person since January 2021. Past precedents show that a single tweet by a billionaire on cryptocurrencies can push up the price of those crypto coins. For example, at some point last year, the cost of Shiba Inu appeared to jump after Musk constantly posted pictures of his Shiba Inu puppy on Twitter.
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