Elon Musk: Dogecoin-Trading Hamster 'Has Mad Skillz'
At this point, the entire internet has read about Mr. Goxx, a hamster that has made 20% gains since he began trading cryptocurrency on June 12. But the tech world has been holding its collective breath, waiting for one m...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
At this point, the entire internet has read about Mr. Goxx, a hamster that has made 20% gains since he began trading cryptocurrency on June 12.
But the tech world has been holding its collective breath, waiting for one man to share his view. Elon Musk, the CEO of the world's largest electric car company as well as SpaceX, is well-known for pontificating on everything from the imagined predilections of Thai rescue divers to his beloved Dogecoin.
This morning, he stepped onto the Twitter hamster wheel that secretly powers every Tesla and pounded out 24 characters on the matter: "Hamster has mad skillz!!"
Elon Musk’s Bitcoin Tweets Move Markets. Is That Illegal?
Mr. Goxx, whose name nearly matches the Mt. Gox exchange that suffered massive losses after a hack and alleged malfeasance by its operator, "chooses" which cryptocurrency he will trade by running on a wheel that's been segmented into multiple assets. He then buys or sells that currency by running through one of two tunnels; everything is wired to a trade desk.
This method has helped Mr. Goxx and his anonymous owners outperform the Dow Jones as well as Warren Buffett's Berkshire Hathaway. Depending on the exact trading time, Mr. Goxx appears to have just about matched Bitcoin, which has gained almost 20% since the rodent started.
That's been enough to impress Musk. Game, after all, recognizes game. With over 60 million followers, a single tweet from the King of Crypto can move markets. The price of Bitcoin slipped after Tesla stopped accepting the cryptocurrency for merchandise—only for Musk to repeatedly kick BTC while it lay on the ground.
Not everyone has been praising Mr. Goxx, however. Dogecoin co-creator Billy Markus, clearly jealous that he didn't foresee the growing importance of so-called "meme rodents," tweeted, "It's all just dart throwing."
Bullseye.
Why this matters
This altcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on DecryptRelated market context
Take-Two branded SEC filings push GTA VI Solana currency linked to memecoin trading
Two public-comment PDFs on a US Securities and Exchange Commission docket describe a proposed Grand Theft Auto VI currency called...
Kraken Pro is now available on TradingView
TL;DR Kraken Pro is now a listed broker on TradingView, so you can trade our spot markets without leaving your charts. Connect onc...
Coinbase Put Nvidia and Apple Stock Onchain: But Does Weekend Trading Create Liquidation Risk?
Coinbase tokenized US equities went live on Base on Monday, putting four technology stocks onchain as transferable tokens that eli...
Some Bitcoin holders tax bill is now set when they leave the country instead of when they sell
In Canada, Australia, and a handful of other countries, leaving now triggers a tax bill on Bitcoin gains that have never been sold...
Bitcoin Tops $81,000 for the First Time Since May as Treasury Buybacks Revive the Debasement Trade
Bitcoin rose above $81,000 on Tuesday for the first time since mid-May, extending a rally that has pushed the token up roughly 28%...
Bitcoin Wakes Up as Treasury Blinks: Is the Great Catch-Up Trade Finally Here?
The speed of the move caught a heavily bearish market off guard. More than $4 billion in short crypto positions were liquidated, c...