Central African Republic officially launches crypto initiative
The crypto-friendly country has launched its state-backed cryptocurrency project to create further financial inclusion for citizens.
SpaceX and Tesla CEO Elon Musk has taken to Twitter once more to spark the cryptocurrency community into rumours and action.
With a satirical tweet, Musk posted a meme about Dogecoin, which itself started life as a meme cryptocurrency, implying that the Dogecoin standard would envelop the global financial system.
The comment – which saw massive engagement from tech enthusiasts, financial investors, and the crypto community – might have resulted in the spike that Dogecoin’s price is seeing following the tweet. Looking at data from the past two days from Coinmarketcap, it’s obvious to see the correlation between the tweet and the increase in Dogecoin’s price on 18th July. Gaining 15.39% in daily trading value, Dogecoin rose from $0,003023 USD to $0,003629 USD.
This isn’t Musk’s first comment referring to the meme token. In April last year, he tweeted about Dogecoin in response to a poll from the cryptocurrency’s official Twitter account:
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
In addition to referring to the cryptocurrency, Musk also reached out to a figure in the industry in 2018. In September 2018, he tweeted to Dogecoin founder Jackson Palmer asking him for advice on how to get “rid of the annoying scam spammers”. The tweet led to an apparent conversation between Palmer and Musk as Palmer tweeted later that ” Elon has the script…” And that the two “had a good chat on how @jack and the Twitter team should definitely automate and fix this problem on their end though.”
Musk, who has been outspoken about his Bitcoin holdings, isn’t one to shy away from talking about cryptocurrency. The Tesla CEO has stated – and reconfirmed on several occasions – that he owns 0.25 Bitcoin, which a friend bought for him. He, however, has explicitly stated that he has never actively purchased any Bitcoin before.
The crypto-friendly country has launched its state-backed cryptocurrency project to create further financial inclusion for citizens.
While the rest of the industry struggles with plummeting prices, Coinbase is looking to expand operations into Europe.
According to on-chain analytics data, the cryptocurrency market might be headed towards a rally sooner than people expect.
When things are uncertain in the cryptocurrency market, it's tricky to choose a strategy and decide which projects to put your money behind.