Once again the richest man in the world generates controversy on social networks for his comments, rather riddles, on Twitter around cryptocurrencies, this time he incinuated that he is about to launch a project around the world of digital currencies.
Indeed, The founder of Tesla and SpaceX, suggested on Twitter that the name of his potential digital currency will be MarsCoin, in allusion to various comments from his followers (or fans) about the possibility of creating a cryptocurrency called "Eloncoin"; which triggered an incredible rise in the price of an altcoin with the same name of the red planet (according to data from CoinMarketCap, the mentioned token whose denomination is MARS soared by 2,500 % going from 0.1 to 2.5 dollars in one hour).
In all honesty, I do not understand Musk's tweets, they reveal absolutely nothing except his interest in creating controversy among his followers, who attribute mystical powers to the billionaire as if he were Jesus starring in the new testament (or "Teslament"?). Regardless of the opinion of whoever reads this article about the Dogecoin cryptocurrency and about the billionaire of South African origin, do you really have the certainty or concrete evidence that this gentleman is investing in the Dogecoin currency?
On the other hand, before Musk's strange (to say the least) tweets did you know what Dogecoin is all about? Obviously if the richest man in the world announces "I invested $1.5B in doge" obviously it would be considered a concrete statement that would leave no doubt, even my cat would invest his money (if he had it) in that cryptocurrency, however nothing like that has happened, except that from the moment he announced that he acquired that amount of dollars in Bitcoins (BTC) the main decentralized digital currency has not stopped rising and rising.
When I look for references about Dogecoin in general what I find is that it started as a meme or mockery of BTC but then became a serious project. Really, I respect the tastes of others very much but I wouldn't put my money in a project that is defined as "a joke". If they really knew the mechanics of Dogecoin they would understand that this cryptocurrency may be useful for small commercial exchanges, but for speculation it is highly risky.
Now those who bought large amounts of Dogecoin beg him to accept this cryptocurrency as a form of payment for their electric cars or space travel, a plea that only has as an answer the creation of a new cryptocurrency which he will call "Marscoin". The plummeting of the doggy coin was not long in coming and now it is going downhill at a time when most of them are going upwards due to the momentum of BTC.
I do not know if the creators of MARS (the token that is not Musk's) expected this sudden rise in the price of their project but I hope they take advantage of it very well, let's say they unwittingly became a replica of Gamestop but in the world of cryptocurrencies. From what I have seen on their website they also intend to colonize the neighboring planet, I have to assume that this confusion helped them to raise some funds for their goal, we will see if they do it before Elon Musk. For now the only one that has reached Mars orbit is the Bitcoin, which threatens to continue its course even further than we imagine.