#ElonMusk Musk, CEO of SpaceX and Tesla, has an interesting relationship with cryptocurrencies. Here are some key points:

Cryptocurrencies supported by Elon Musk

1. *Dogecoin (DOGE)*: Musk is a public advocate of cryptocurrency, calling it “the people’s cryptocurrency.”

2. *Bitcoin (BTC)*: Musk invested $$ 1.5 billion in Bitcoin in 2021, making Tesla one of the largest companies to invest in cryptocurrencies.

3. *Ethereum (ETH)*: Musk has mentioned Ethereum’s potential for decentralized applications.

Musk’s influence on the cryptocurrency market

1. *Musk effect*: His tweets can significantly influence the price of cryptocurrencies.

2. *Volatility*: His statements can cause price fluctuations.

3. *Increased visibility*: Musk helps popularize cryptocurrencies among the general public.

Cryptocurrency projects linked to Musk

1. *Dogecoin-1 Mission*: A space mission funded by Dogecoin.

2. *Starlink*: A satellite internet project that could use cryptocurrencies for payments.

Criticism and controversies

1. *Market manipulation*: Accusations that Musk manipulates cryptocurrency prices with his tweets.

2. *Lack of transparency*: Criticism about the lack of clarity in his statements about cryptocurrency investments.

Sources

1. CoinDesk

2. CNBC

3. Bloomberg

4. Reuters

5. Elon Musk's official Twitter (@elonmusk)