Business
Elon Musk’s effect on crypto world shows how irrational markets are – The Australian Financial Review
Just as markets can remain irrational longer than you can remain solvent, amateur investors are demonstrating that their wild speculation can be wilder, and potentially…
With his help, including a February 4 tweet describing dogecoin as the peoples crypto and a February 6 Twitter poll asking whether dogecoin is the future currency of Earth, he managed to propel the value of the dogecoin market, for want of a better term, to more than $US10 billion ($13 billion), a record high. It is now up about 900 per cent since late January.
Now it turns out that while Musk was drawing a crowd with his bizarre comments and images boosting a currency that, to reiterate, is a joke,…
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