Elon Musk Tweets “Dogefather” And The Dogecoin Jumps 30%

Elon Musk is a business superstar, according to his fans. Elon’s current net worth is $174 billion. Musk is the second richest person on the planet. Amazon’s Jeff Bezos net worth is $180 billion. Both men plan to take people to space sometime in the foreseeable future. Musk is ahead of Bezos in terms of successful space missions. But the competitiveness in both men shines through in press releases.

Musk, the South Africa-born American citizen, was one of the founders of PayPal. He sold the company not long after he bought it. And he invested some of his billions in the electric vehicle industry. Tesla is one of his business ventures. SpaceX is another Musk company. Tesla and SpaceX keep Musk busy. But he still has time to dabble in the cryptocurrency market. Mr. Musk mentioned Dogecoin in a recent Twitter post. His post gave cryptocurrency investors the urge to buy Dogecoin.

Dogecoin sounds like a meme-based cryptocurrency, and in a sense, it is. Dogecoin started as a joke in 2013. Investors like Snoop Dogg, Gene Simmons, and Elon Musk kept the joke alive. But Dogecoin is not a joke anymore. Musk’s 52 million followers jumped into action when Musk let them know he plans to host SNL with Miley Cyrus on May 8th. When he called himself the Dogefather in that tweet, Dogecoin’s value jumped by 30%.

That’s not the first time Mr. Musk mentioned cryptocurrency. In February, Musk’s one-word tweet Dogecoin made the questionable currency’s value increase by 25%. When Mr. Musk tweeted SpaceX plans to take Dogecoin to the moon on the next flight, the cryptocurrency had a 30% increase in value. Dogecoin’s current value is $0.30. But after Musk hosts SNL on May 8th, investors expect another major spike in the Dogecoin.

Musk also made headline news when he told the press going to Mars on a SpaceX flight is not for rich people. He also said the first settlers on Mars will die on that planet. Mr. Musk also offered a $100 million reward to anyone who can figure out how to remove carbon from the red planet.

Mr. Musk used Sir Ernest Shackleton’s 1914 Trans-Antarctic mission as an example of what could happen to the first Mars explorers. The key survival on Mars is the ability to balance responses to predictable events and non-predictable events, according to Musk.

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