Tesla founder and current Twitter owner Elon Musk made a comment about Charles Munger, who is known for his hostility towards cryptocurrencies. In his most recent tweet, Musk disclosed a move by Munger that could be seen as an “investment mistake”. Here are the details…
Munger could have been a Tesla investor
Elon Musk has revealed that Charles Munger, an economist and investor, may have invested in his electric car company when it was still worth $200 million in 2008. By comparison, Tesla’s current market capitalization is about 3,000 times larger and is about $615 billion. At its peak in November 2021, the company was valued at $1.23 trillion.
Musk’s followers were quick to cynically evaluate Munger’s expertise in technology investments, described by the media as Warren Buffett’s right-hand man, especially recalling his harsh rhetoric about Bitcoin (BTC) and cryptocurrencies.
Munger was critical of cryptocurrencies
Chris Burniske, analyst and former head of crypto at ARK Invest, said he knew exactly how Munger would miss the chance of thousands of percent returns. Previously, the 99-year-old Munger published an article stating that crypto assets are nothing more than gambling contracts, calling them “rat poison”. He also urged US authorities to follow in China’s footsteps and ban cryptocurrencies.
Interestingly, the regulatory nightmare regarding cryptocurrencies in February started right after ban calls from Munger in the first half of the month. This is interesting because in December 2021, the decline in the crypto market began right after a series of criticism from investors. Since then, their talk about cryptocurrencies has come to be seen as a kind of signal from outbursts expressing people’s anger.
Elon Musk tweets with DOGE founder
cryptocoin.com As we reported, Musk, whose favorite altcoin is Dogecoin, responded to a tweet from DOGE founder Billy Markus. Markus, who co-created Elon Musk’s favorite cryptocurrency Dogecoin with Jackson Palmer, stated in a recent response that his “dream car” is the Toyota Camry. “Haters can fight me,” added Markus. Elon Musk left an angry emoji as a comment, implying that maybe Billy Markus should prefer a regular Tesla electric car, maybe even a Cybertruck, over Toyota and other automakers.
Unlike Musk’s previous tweets, the aforementioned tweet did not have any effect on Dogecoin. Earlier this week, on February 22, Musk excited the DOGE community by tweeting a line from a popular Baha Men song, “Who Let The Dogs Out.”
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