With the growing and ever-expanding influence of Bitcoin in the world, there is also an immense growth in the people who propagate information about this cryptocurrency and other cryptocurrencies in general. These people are referred to as Bitcoin influencers. They play an important role in spreading awareness and information about cryptocurrency. This interests many people into trying and trading in cryptocurrency and one can visit this site to do the same.
Not only this, these influencers play a great role in the rising and growing currency values of Bitcoin. This is because their single tweet can change the market composition and bring a new influx of more people into the cryptocurrency trading business.
Elon Musk is another such influencer in the world of Bitcoin and other cryptocurrencies. Not only is he a popular businessman but also a man with many ideas. There are many reasons why he is the biggest bitcoin influencer, 6 of those reasons are:
1. He is an Entrepreneur and Businessman
Elon Musk, being an entrepreneur and a businessman himself, has high credibility in terms of matters related to money. He is a worldwide famous businessman who is known for running two very famous and successful companies – Tesla and SpaceX. He has built these business empires by himself. This makes him a very credible and trustable person to take cryptocurrency and financial advice from.
Besides this, many people these days aspire to be successful entrepreneurs with their own business rather than work for some other big corporation. Elon Musk inspires those people to do the same. As these people aspire to be rich and successful like Elon Musk, they trust his advice and opinions about a lot of financial issues including cryptocurrency trading.
2. He is the Richest Man in the World
What makes one more credible to give advice related to money and cryptocurrency, like Bitcoin, than being the richest man in the world? Elon Musk is not a mere businessman, he is also the richest person in the world with a net worth of $269 billion. This shows that he is very clever with his money and invests in the right place which makes him good returns.
A normal crypto trader is more likely to trust the words and tweets of Elon Musk rather than a normal layman. This results in the growing influence of Elon Musk as a businessman as well as a crypto trader.
3. He has an ever-growing Audience
The main platform that Elon Musk uses to share information regarding Bitcoin and other crypto-related information is Twitter. It not only makes his opinions about cryptocurrency and Bitcoin more personalized but also helps in connecting his audience with him.
Through the use of Twitter, he speaks to a large part of the population, especially the younger generation who is interested in cryptocurrency and Bitcoin trading. Along with this, he has more than 70 million people who follow him and this number is only increasing. His Tweets regarding cryptocurrency are interactive, fun, and entertaining as well and this gives him an edge over other influencers of Bitcoin.
4. He is Entertaining
Even though Elon Musk is such a big businessman, he still seems very approachable and friendly on Twitter. His tweets about cryptocurrency are not some serious posts laden with data and numbers that are confusing to all, instead, he uses the internet lingo to state his opinions about the various cryptocurrency. This makes his tweets fun to read while also being knowledgeable.
Oftentimes, he uses memes and internet and pop culture references to get his point across in a very fun manner. This makes him a great blend of knowledge and fun and is the reason why he is not considered too ‘preachy’ like many other bitcoin influencers.
5. The Elon Effect
Elon is no ordinary man. His single tweet has the power to change the trajectory of many cryptocurrencies. The minute he tweets about a certain cryptocurrency in a positive light, many traders and people start flocking to buy the said cryptocurrency as they believe it will reap them high benefits in the future. This phenomenon has come to be popularly known as ‘the Elon Effect’ among many Twitter folks and cryptocurrency traders and is a very real thing.
If he tweets about a cryptocurrency being good people rush to buy it, if he says a cryptocurrency is not good or he won’t specifically want to trade in that particular cryptocurrency, the value of that cryptocurrency falls tremendously.
6. He had been talking about Bitcoin before it became mainstream
As is very clear, bitcoin has become a fairly common name in the last few years but it was not always this popular. When Bitcoin started, not many people knew about it and Elon Musk was one of the first persons to talk about it. This also helps in building up his credibility with regard to cryptocurrency and the knowledge he possesses about this market.
This can be made clear via this interaction: Elon first mentioned bitcoin as ‘probably a good thing’ in 2014. Soon, rumors circulated that he was Satoshi Nakamoto (an alias of the founder of Bitcoin). But, Eon Musk responded by tweeting that this information is not correct and he had received a portion of a Bitcoin from a friend a few years ago.
In conclusion, it is no news that Elon Musk is the biggest cryptocurrency and bitcoin influencer across the globe currently. Many people look up to him and aspire to be like him and thus are more certain about following his advice regarding the various cryptocurrencies in the market.
Besides this, he is also entertaining and does not try to preach or do an information dump, instead, he knows how to connect with the younger population on the internet with the help of memes and pop culture references and influence them. He is experienced, popular, and well-known and that is what makes him such a big influencer in the bitcoin market.