Musk’s Scooby-Doo Meme, Tesla’s Bitcoin Position, Black Swan Author’s NFT Review and More: This Week in Crypto – BlackRock (NYSE:BLK), Tesla (NASDAQ:TSLA)

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This week in the cryptocurrency world has been nothing short of hectic. From Elon Musks’ influence over Dogecoin to the fluctuating valuation of Jack Dorsey’s NFT tweet, the crypto landscape was buzzing with activity.

Meanwhile, Tesla’s unchanged stance on Bitcoin and Robert F. Kennedy Jr.’s proposal to back the dollar with Bitcoin added more fuel to the fire. Finally, BlackRock CEO Larry Finks’ revelation of the astonishing demand for Bitcoin and Ethereum among gold investors closed the week.

Elon Musks Scooby-Doo Meme Increases the Value of DogecoinElon Musk, CEO of Tesla Inc. TSLA, once again demonstrated his influence on Dogecoin DOGE/USD with a single tweet. Musks Scooby-Doo meme’s tweet led to a rapid increase in the value of Dogecoins, increasing its market capitalization by around $320 million in just 15 minutes. However, Musk’s influence over Dogecoin has also led to legal issues, with a group of investors filing a lawsuit alleging market manipulation. Read the full article here.

Black Swan Author Criticizes NFTN Investing Nicholas Taleb, author of Black Swan, has criticized investing in non-fungible tokens (NFTs), calling it a sign of mental deficiency. Talebs’ criticism comes at a time when the NFT market has seen a major drop, with the average price of an NFT sale falling 92% in just two months. Read the full article here.

Tesla’s Bitcoin Position UnchangedDespite Elon Musk’s known penchant for cryptocurrencies, Tesla kept its Bitcoin position unchanged in the second quarter. The company’s chief financial officer, Zachary Kirkhorn, said the company is open to increasing its Bitcoin holdings in the future. Read the full article here.

Robert F. Kennedy Jr. proposes Bitcoin-backed dollar Democratic presidential hopeful Robert Kennedy Jr. has detailed his plan to return to a hard currency standard using Bitcoin in the United States. Kennedy proposed starting small, with perhaps 1% of issued Treasuries backed by hard currencies, including Bitcoin. Read the full article here.

BlackRock CEO Reveals Demand for Bitcoin, EthereumLarry Fink, CEO of BlackRock BLK, expressed his optimism about the growing demand for cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD among gold investors. Fink noted the potential of exchange-traded funds (ETFs) to democratize access to both gold and crypto. Read the full article here.

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Cryptocurrency Photo by BBbirdZ on Shutterstock

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