Elon Musk Supports Bitcoin, Not Dogecoin

It is no secret that bitcoins recent all time high was a direct result of Tesla's mass purchase. If I am correct, I believe they bought half a billion dollars worth of bitcoin this month. Elon Musk has also been present on Twitter and talks about his opinion of cryptocurrencies, including dogecoin.

The fact that Tesla put such a large amount of money into a cryptocurrency, as an asset, is tremendous for the early investor. Other companies were already starting to store cash reserves in bitcoin, and now one of the most reputable technology brands in the world has followed suit.

Sooner or later, bitcoin will share a similar market cap to other assets like gold. The value of each bitcoin would be tremendous if this were the case, and once again the entire world will be wishing they had bought more.

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