Elon Musk, Tesla and SpaceX CEO, wields significant influence in the cryptocurrency market. His tweets and investments impact Bitcoin, Ethereum, and Dogecoin prices, showcasing the volatility of digital assets. Musk’s PayPal background and Tesla’s crypto investments highlight blockchain’s potential for mainstream adoption. The “Musk effect” on meme coins and his X platform (formerly Twitter) underscore social media’s role in shaping crypto trends. Understanding Musk’s strategies could benefit investors in decentralized finance, smart contracts, and inflation-protected assets amid market fluctuations.

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