#XRP

Elon Musk has been a central figure in the cryptocurrency revolution, influencing the market with his statements, investments, and technological initiatives. Here are some of the key impacts he has had on the crypto universe:

1. Tesla and Bitcoin

- In February 2021, Tesla announced an investment of US$ 1.5 billion in Bitcoin and began accepting the cryptocurrency as payment for its cars.

- This caused a significant increase in the price of #BTC, driving it to historic highs at the time.

- However, in May 2021, it suspended Bitcoin payments, citing environmental concerns due to the high energy consumption of mining. This temporarily crashed the market.

2. Dogecoin #DOGE – The Meme that Became Currency

- Musk frequently tweeted about Dogecoin, a cryptocurrency originally created as a joke.

- His posts on Twitter (now X) led to sudden increases in the price of DOGE, including a rally of +15,000%.

- Companies like SpaceX and Tesla even accepted DOGE as payment for some products.

3. Starlink and Cryptocurrencies

Starlink, a subsidiary of SpaceX, has already tested cryptocurrency payments for satellite internet services.

- It suggested that cryptocurrencies could be useful in economies with fragile financial infrastructure.

4. Twitter (X) and Crypto Integration

- Since acquiring Twitter (now X), he has explored the idea of integrating cryptocurrency payments into the platform.

- There is speculation that X may launch its own digital currency or integrate stablecoins like Dogecoin.

5. Environmental Concerns and Alternatives

He pressured the cryptocurrency industry to adopt sustainable energy, encouraging the use of proof-of-stake (PoS) instead of proof-of-work (PoW).

- He praised Ethereum after its transition to PoS (The Merge).

Conclusion

Elon Musk continues to be one of the biggest influencers in the crypto market, whether through institutional investments (like Tesla's in Bitcoin) or through the power of his statements on social media.