Elon Musk or how to win or lose millions at the stroke of a tweet

An Tweet by Elon Musk is enough to to provoke millionaire profits or losses to companies and investors. Revalue the listing of a company and save it from bankruptcy, buying a social network at the stroke of a checkbook or shooting up the value of a cryptocurrency are some of the actions with which the billionaire has revolutionized the financial market at the stroke of a tweet.

The last one arrived this Friday. First thing in the morning, the richest man in the world has surprised to the entire planet after announcing that he was going to temporarily stop twitter shopping just a couple of weeks after announcing its acquisition by 44,000 million dollars. Immediately afterwards, the quote of the social network has collapsed an twenty% causing a hole in the portfolios of thousands of investors in a matter of minutes.

This has been the latest impact on the world economy caused by the eccentric Musk. But in recent years he has become accustomed to causing major financial earthquakes with a simple message and without necessarily being very specific.

Twitter and Bitcoin, two common themes on your profile

With close to 100 million followers on the social network that he now hesitates to buy, Musk has been one of the billionaires champions of the world of cryptocurrencies that just now has just suffered a historic fall.

At the end of January 2021, he decided change his Twitter bio to the word “Bitcoin”. What happened next caused a movement of billions of euros: the value of the main cryptocurrency it shot up more than 20% and rose to historical values ​​never seen before.

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Now, the investors who decided to follow in the footsteps of Musk for a simple change of status in his biography, are at the crossroads of assuming huge losses after the great fall that weighs down the digital currency in this last week, of up to 32% of its value.

But that was not his only move with the ‘cryptos’. A year and a half before this historic fall and in the midst of the ‘crypto fever’, Musk published a photo on Twitter of the Dogecoin logo, a cryptocurrency unknown until now and that from then on multiplied its value becoming one of the references in this volatile market.

And it is that his relationship with crypto assets is impossible to understand without his Twitter profile. In March of this year and amid rumors about a possible sale by him of the bitcoins he owned, the tycoon decided to give it another boost, just when the future of ‘crypto’ seemed complicated.

“I still have and will not sell my Bitcoin, Ethereum or Dogecoin”he noted in a tweet posted on March 14, 2022. With that message the value rose between 4 and 10% immediately and touched this year’s highs.

Links and acronyms to exercise your power indirectly

At other times he has decided not to be so direct. In 2021 the Gamestop video game store was on the verge of bankruptcy and Musk chose to post a message using an acronym: Gamestonk. In that message, Musk linked to a Reddit forum encouraging people to buy shares of the company.

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With that play on words between ‘Gamestop’ and ‘stonk’, a financial term used to buy assets, subtly encouraged to buy the shares of the company. In a few seconds, the tweet had nearly 300,000 immediate responses, and messages multiplied on the forum saying that Musk supported them. Stocks skyrocketed and the company went bankrupt.

The value of shares of Twitter and Dogecoin also rose on the day he announced that he was buying the social network with a message on his profile. Before opening Wall Street the The company posted a profit of 5% and it seemed that it was opening a new stage in the era of social networks with the most powerful man in the world at the helm.

Less than a month later, the billionaire has again paralyzed the new era with a tweet, showing that he, without being the direct ownerit is capable of making or losing millions of people in a matter of seconds hitting the “send” button.


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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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