Elon Musk doesn’t invest in Shiba Inu and leaves signs that he doesn’t like the cryptocurrency. Could this be harmful to SHIB in the future?
It’s no secret that Elon Musk is a huge proponent of cryptocurrency and blockchain technology. He’s even gone so far as to call Bitcoin “a good thing.” But it seems that he may not be so high on Shiba Inu, the meme-based cryptocurrency that has taken the internet by storm.
In a recent tweet, Musk seemed to take a shot at SHIB, saying that he “doesn’t invest in dogecoin or shiba inu.” This sent shockwaves through the crypto community, as many believe that Musk’s endorsement is what helped propel SHIB to its current price.
Do you think Elon Musk’s tweet was just a joke? Or do you think he knows something we don’t? Let us know in the comments below!
This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
The businessman’s revelation took place this Sunday on his Twitter account.
TeslaElon Musks CEO revealed that he only invests in bitcoin, dogecoin and ether in a twitter post this Sunday (24). The statement came with the questioning by a follower about the amount the entrepreneur had of Shiba Inu. When answering, Musk was adamant: “None”.
In another tweet, he added that he only invests in three types of cryptocurrencies: bitcoin, dogecoin and ether. “Like I said before, don’t bet the farm on cryptography! The real value is building products and providing services to other human beings, not money in any form,” Musk said.
According to the North American website Business Insider, the Shiba Inu was launched in August 2020 and reached the highest record of U$ 0.00004450 on the last 24th of October. In just 14 months, the cryptocurrency acquired a value of US$ 15 billion, making it the 13th largest crypto currency in market value.
However, this Monday, Shina Inu suffered a drop of 1.7% in its price. According to Business Insider, the reason could be associated with Musk’s comment.
- Shiba Inu enters the top 20 of the biggest cryptocurrencies in the market
- SHIB coin: Why Shiba Inu coin may never rise again
But the theory that has been circulating is that in addition to not investing in #SHIB, Elon Musk would have a different idea about the currency, making him dislike it. This is part of the fact that he is clearly not a big fan of it, therefore the very one who always loved this shitcoin market.
However, some are speculating that there may be more to his tweet than meets the eye.
The theory circulating is that Musk may have inside information about SHIB that the general public is not yet aware of. This could explain why he would be so quick to distance himself from the currency.
Of course, this is all just speculation at this point. Only time will tell what Musk’s true intentions are. But one thing is for sure: the world of cryptocurrency is never boring.