Tesla CEO Elon Musk says that he will become the world’s first Dogecoin trillionaire.
According to a recent prediction by a Morgan Stanley analyst, the SpaceX founder is on his way to becoming the world’s first trillionaire with his relentless amassing of wealth.
A Twitter account called UberFacts tweeted this prediction. Amusingly, the Tesla CEO replied to the tweet, stating that he would be a Dogecoin trillionaire. With that reply, he sent the Dogecoin price soaring again.
Related Reading | Elon Musk’s “Baby Doge” Tweet Spikes The Dogecoin Price
As of today, Musk is already the wealthiest man in the world, ahead of Amazon founder Jeff Bezos, who is in second place. According to the Bloomberg Billionaires Index, he has an estimated net worth of $252 billion. The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.
In July, the tech entrepreneur revealed that he owns Bitcoin, Dogecoin, and Ether.
Elon Musk and Dogecoin
Musk’s net worth has skyrocketed because of Tesla, whose stock price has kept increasing over the months. On Friday, the company’s shares rose to a new high above $900/share. With his current net worth, he is worth more than the entire Gross Domestic Product (GDP) of New Zealand.
On Friday, Twitter account @UberFacts reported the prediction from Morgan Stanley.
Elon Musk is predicted to become the world’s first trillionaire, thanks to SpaceX
— UberFacts (@UberFacts) October 22, 2021
Elon then replied directly to the tweet agreeing that he would be a trillionaire, but in Dogecoin.
— Elon Musk (@elonmusk) October 22, 2021
In typical fashion, Musk’s mention of Dogecoin in the tweet resulted in the coin’s price rallying by almost 6% in just an hour. At the time of writing, Dogecoin is trading at $0.247.
Musk's tweet pushes Doge to $0.247 | Source: DOGEUSD on TradingView.com
In July, Musk revealed that he owns Bitcoin, Ethereum, and Dogecoin. However, he has always posted memes about Dogecoin in particular and is constantly weighing in on the meme coin.
In May, the SpaceX founder announced that in 2022, SpaceX will launch a moon mission funded by Dogecoin. He said this is the first time that cryptocurrency will be used in space, and that it will also be the first meme used in space.
SpaceX launching satellite Doge-1 to the moon next year
– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space
To the mooooonnn!!https://t.co/xXfjGZVeUW
— Elon Musk (@elonmusk) May 9, 2021
SpaceX Founder’s Net Worth Prediction
Forbes says that the tech entrepreneur is working to revolutionize transportation both on Earth, through electric car maker Tesla, and in space, via rocket producer SpaceX.
A Morgan Stanley analyst says that he could make much more money from his space exploration business SpaceX than he has made from Tesla.
The analyst Adam Jonas said that SpaceX was “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure”.
He added: “More than one client has told us if Elon Musk were to become the first trillionaire … it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”
Related Reading | SpaceX Has Bitcoin On Its Balance Sheet, Elon Musk
Jonas estimates that the privately-held SpaceX, valued at $100bn this month, could be worth $200bn and even more. It is presently the world’s second-biggest privately held company, after the internet firm ByteDance. The SpaceX founder owns roughly 48% of the company.
It remains to be seen if these predictions about the Tesla CEO will come to pass.
Featured image by The World Financial Review, Chart From TradingView.com