Price of bitcoin jumps after Elon Musk says it is 'a good thing'

Bitcoin's prices skyrocketed to above $38,000 on Monday after billionaire CEO of Tesla, Elon Musk said he was a "supporter" of the cryptocurrency.  

A Good Thing

In comments broadcast on social media app Clubhouse on Monday, Musk said "Bitcoin is a good thing", acknowledging that he was late to the bitcoin party. 

Last Friday, Musk changed his biography on Twitter to simply "#bitcoin", leading to a surge in the prices of the cryptocurrency to $38,000. 

Around the same time, he joined the GameStop fad, tweeting "Gamestonk", a play on stock market memes, along with a link to the WallStreetBets forum on Reddit, where users had teamed up to increase the value of the game retailer's shares. 

Musk added in his Clubhouse comments that his tweets about dogecoin, another less popular cryptocurrency, were “really just meant to be jokes”. Whenever Musk tweets about the dogecoin cryptocurrency, which was branded with a Shiba Inu meme, its value has increased markedly. 

Talking Up His Investments

Earlier this year, Nusk became the richest person in the world as the price of shares in Tesla, makers of electric cars rose. Recently, however, he has leveraged the strength of his considerable following to talk up other investments. 

He was one of the characters featured in a Star Wars-style poster, widely shared on the WallStreetBets page on Monday, for an imagined film about the GameStop frenzy. The imagined film was entitled Diamond Hands, a reference to investors who hold on to their extremely risky financial bets even in the most volatile conditions.

Musk has long been comfortable with online culture, with the chief executive regularly posting memes, including related to financial topics. However, it has also got him and his company in trouble on occasion. In 2019 Musk reached a settlement with the US Securities and Exchange Commission after he tweeted that he had “funding secured” to take Tesla private at $420 a share, which later proved to be false.

Comment la climatisation influence-t-elle votre facture énergétique ?

Lorsque les températures grimpent, la climatisation devient souvent un refuge salvateur contre la chaleur accablante. Mais au-delà du confort immédiat qu'elle procure, avez-vous déjà réfléchi à l'impact de votre système de climatisation sur votre facture énergétique ? Ce sujet mérite une attention... Suite...

Nos conseils pour réussir votre investissement boursier

Vous êtes un opérateur économique et vous avez choisi d’investir en bourse pour fructifier votre petite fortune ? Si oui, cet article vous livrera en quelques lignes les secrets et astuces pour devenir un pro de l’investissement boursier. Pour quelles raisons devriez-vous investir en bourse ? Si vou... Suite...

Les avantages d’un rachat de crédit

Votre situation d’extrême endettement vous donne-t-elle de l’insomnie ?  Voici une porte de sortie pour vous : le rachat de crédit. Si vous voulez en savoir plus, lisez cet article jusqu’à la fin. Pourquoi le rachat de crédit ? Si vous avez au moins deux dettes (crédit étudiant ou impôts impayés ou... Suite...

London loses top position as European trading Center due to Brexit

Brexit is having a negative effect on UK's position in trade matters. London has been dislodged as the top trading Center in Europe.   Amsterdam dislodge London as the biggest international trading hub Amsterdam has replaced London as the biggest finance destination in Europe as their exit from the... Suite...

Covid-19 et économie : l’Afrique plus impactée par la crise économique que par la maladie

L’Afrique est le continent le plus épargné par la pandémie sur le plan sanitaire. En effet, avec 17 % de la population mondiale, l’Afrique n’a eu que 4,2 % de taux de contamination. Cet état de choses qui ne devrait pas affecter sa croissance économique l’a à la surprise générale impactée. On vous e... Suite...

Le Covid-19 et les conséquences sur l’économie

La pandémie du coronavirus a installé une crise qui a mis à genou l’économie mondiale. Et alors qu’on se relève encore difficilement de ce désastre un nouvel variant plonge le monde dans un troisième confinement qui provoquera une nouvelle guerre mondiale si on ne fait pas attention. Les conséquence... Suite...

Impact du Covi-19 sur l’économie mondiale : attention à une nouvelle guerre mondiale

Le Covid-19 a provoqué une crise sans précédent. Les conséquences de cette pandémie sur l’économie dépassent de loin ce qui s’est passé lors de la seconde guerre mondiale. En 2020 déjà, la banque mondiale a fait savoir dans son rapport que le PIB n’atteindra que près de 84 000 Mds$. Avec les nombreu... Suite...

France: une économie dos au mur

La crise économique en France prend d’ampleur en fonction de la situation sanitaire qui prévaut dans le pays. Aujourd’hui, la France devrait prendre la mesure du péril et prévoir une stratégie d’urgence afin de faire face à ce qui l’attend en cette année 2021. Une France face à une économie instable... Suite...

The retail industry sees a surge in the US

Despite being hit by the coronavirus pandemic, it seems the retail sector in the US has recovered. There has been a gradual increase in sales of retail products in America.   Us retail industry experiences an increase   The American US retail sales have jumped to their highest percentage in seven mo... Suite...

China becomes Europe's biggest trading partner

China has overtaken the US as Europe's best trading nation for the year. This is good news to China who has bounced back quickly from the COVID-19 pandemic.   China overtakes America as Europe top trading country   The European Union is now trading more with the Chinese than the United States. This... Suite...

House Democrats to Take Bold and Coordinated Step in Pushing for Covid-19 Relief Bill

Not too long after the new administration assumed office, the presidency proposed a big financial move in the bid to help the economy get back on its feet. This is specifically about the Covid-19 relief package that has raised so much dust in recent times between the democrats and republicans.  Why... Suite...

US oil production slumps to 42% as waves rock Texas operations

The cold wave that affected most parts of Texas, has caused a huge decline in Oil operations in the region. It is likely the US will have an increase in oil rates.  US oil production declines to 42% The total crude oil production of the US has dipped to above 41% - which is the highest decline ever-... Suite...

Inflation in the UK could pass 2% as product prices rise

The rate of inflation in Britain has surged in recent weeks. This has caused a slight increase in essential and non-essential services in the country.  Inflation rate spikes in Britain  Prices of goods have increased in Britain in January as financial analysts this will have a negative effect after... Suite...

Worldwide Bitcoin value passes $55,000

Bitcoin reached a new historical level last week, increasing its current value. Its new value saw the online currency pass its market capitalization of $1 trillion.  Bitcoin is the world's most popular cryptocurrency, and its 20% weekly gain has increased its value to $57,553 after the coin surpasse... Suite...

Comment estimer la valeur de mon appartement ?

L’évolution progressive du secteur immobilier fait interpeller tous les propriétaires de biens immobiliers sur les possibilités d’augmentation de la valeur de leurs patrimoines. Une idée qui provoque l’envie de capitaliser davantage sur son bien. Pour cela, il est prioritaire de connaître les facteu... Suite...