Tesla boss has posted a video about Dogecoin while responding to Ark Invest’s Director of Research
Elon Musk, head of Tesla, SpaceX and a few other top companies, who is also a big fan of the Dogecoin meme cryptocurrency, posted a video meme on DOGE.
This was a response to a tweet about Bitcoin miners by Brett Winton, Director of Research at Ark Invest. Speaking about mining, on April 1, the 19 millionth Bitcoin was minted.
Video that “explains everything”
Winton posted a joke that features a short conversation between someone who understands Bitcoin and Bitcoin mining and someone who doesn’t know that “miners” are hardware. The ignoramus here is the mother, i.e. an old school person who doesn’t understand crypto and doesn’t know that miners are not just people but also microchips.
Elon Musk responded, posting a video about Dogecoin, saying that it “explains everything”. The video features a Shiba Inu dog (a symbol of DOGE) riding a rocket that allows it to leave behind Bitcoin and other major cryptos by market cap. The price of DOGE surges in it and the coin is going “to the moon”.
The video also briefly shows the microchips used for the proof-of-work mining algorithm used for Dogecoin, Bitcoin, Litecoin, and other first-generation coins and their descendants.
Dogecoin co-founder Billy Markus has joined the discussion, calling this video “best cryptocurrency video in history”.
In the thread under Winton’s tweet, a commenter also shared his complaints about not being able to explain Bitcoin to his wife. Another Twitter user in his late 60s admitted that he didn’t understand Bitcoin, but he felt something big was missing.
Brenton responded that the meme posted by Musk is too far for the person in the root tweet. But he admitted that his five-year old child is already urging him to set up an account on Coinbase.
Musk will not sell DOGE, ETH and BTC hiss
In early March, the Tesla chief tweeted that he still held Dogecoin and two major cryptocurrencies – Bitcoin and Ethereum. Musk said he was not going to sell his reserves.
The price of Dogecoin responded immediately, staging a rise by 9 percent, which did not last long, though.
In the past, tweets posted by Musk had a stronger impact on the price of Dogecoin, driving it up with nearly every mention in the centibillionaire’s tweet. But now, this “Musk effect” on the price of DOGE seems to be fading.
