By Shelly Melancon (Switzerland)
Billionaire CEO of Tesla and serial Founder, Elon Musk, has expressed his confidence in becoming the first-ever dogecoin trillionaire. Musk, known for his love for cryptocurrencies, is now expected to become the first richest man in the world to become a trillionaire following skyrocketing stock prices. Musk owns stocks in several companies that he founded or invested in.
While reacting to a tweet in which he was predicted to be the first trillionaire in the world, Musk dropped only a word and a symbol. He simply tweeted “* in doge”. Twitter users were quick to spot the tweet and reactions have been flying around. While some believe that it simply means that a doge holder (Musk) might become the first trillionaire, some believe that he literally means that doge will make him a trillionaire.
According to the Bloomberg Billionaires Index, Elon Musk is now worth $249 billion after Tesla shares hit a strong bullish move. Tesla currently trades at $909.68 after reaching an all-time high of $910 yesterday. Tesla’s renewed bullish move has increased Musk’s worth to make him the richest man in the world as of now. But Morgan Stanley predicts that it is SpaceX that will make Musk the first Dollar trillionaire that the world has ever seen.
SpaceX, according to Morgan Staley, is expected to become bigger and more valuable than Tesla in the future. Following SpaceX’s low earth orbit successful launch in September, Morgan Stanley surveyed industry experts and institutional investors. The result of the survey indicates that the majority of investors and experts favor Spacex for long-term investments. With a current market valuation of just above $100 billion, SpaceX is far smaller when compared to Tesla with a market valuation of just over $900 billion.
Given that SpaceX is still privately traded, Morgan Stanley’s survey conclusions might not be too far off. Going public will surely increase SpaceX’s market capitalization. Further innovative features, such as the ones that Musk has planned for the car manufacturer, are sure to increase the value of Tesla cars in the future.
Elon Musk and Dogecoin
Musk is one of the biggest names in the Doge community. He has publicly expressed support for dogecoin over and over, sharing his belief that dogecoin is better than bitcoin and ethereum due to its speed and low transaction fees. Musk is somewhat of an unofficial ambassador of dogecoin and has been heavily criticized or praised, depending on the source, for using his audience power to influence doge’s price movement. The crypto community has come to revere Musk as a whale and market mover; a single tweet in which he shared the picture of a Shib, a dog breed, caused a huge number of people to start buying dogecoin in the hope that its price would rise.
Elon Musk has stated that he has a personal crypto collection that includes bitcoin, ether, and doge. He is constantly promoting dogecoin and seeking wider adoption of cryptocurrency. He announced in February 2021 that Tesla would accept bitcoin as payment.
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