In the crypto world, one tweet from a famous billionaire investor can send crypto up or down in seconds. An influential billionaire like Warren Buffett can stir up Fear, Uncertainty and Doubt (FUD) in the crypto market with a brief interview on CNBC. And billionaires seeking to maintain the value of their crypto assets often find ways to present new narratives in the mainstream media. All of this can affect the fate of your favorite crypto.
So it’s worth keeping an eye on what some of the most famous billionaires are buying right now. As you might expect, Bitcoin (BTC) is the favorite choice of billionaires looking to expand their fortunes into new asset classes like crypto. Lately, etherium (ETN) has been attracting its share of billionaire supporters. And don’t forget the coin memes. Billionaire investors seem to be leading the crowd to get rich quick on coins like Dogicoin (DOJE), proving once again the adage that you can never have too much money.
Bitcoin
Billionaire investor Michael Saylor is probably the best-known bitcoin supporter, and he shows no sign of backing down from his aggressive bitcoin stance. On Twitter, he regularly sends enthusiastic tweets about Bitcoin to his 2.6 million followers, each tweet designed to pump up Bitcoin’s value and defend his massive Bitcoin stance. At the top of his Twitter page is a tweet designed to become an all-time classic: “Bitcoin is a swarm of cyber hornets, serving the goddess of wisdom, feeding on the fire of truth, growing exponentially smarter, faster and stronger behind a wall of encrypted energy.”
Clearly Saylor is a bitcoin maximalist, which means he views bitcoin as an end-all and be-all crypto. So it’s perhaps not surprising that the company he runs, MicroStrategy Inc., has a huge Bitcoin stance, or that Saylor recently took a shit on fellow billionaire Ilon Musk on Twitter over Bitcoin. In early August, Saylor stepped down as CEO to become executive chairman, solely to devote more of his time to managing his Bitcoin position.
Etherium
Billionaire Mark Cuban, the extremely influential sports team owner perhaps best known for his role on the television show “Shark Tank,” has become Michael Saylor’s version of Etherium. He calls himself an “Etherium maxi” and regularly bangs the drum for Etherium. As he sees it, Bitcoin may be a good store of value, but Etherium is where all the action is. In terms of smart contracts, non-functional tokens (NFTs) and decentralized applications, Etherium has emerged as the world’s premier blockchain, according to Cuban. Earlier this year, Cuban showed a massive position in Etherium, and now it seems to be doubling down on its Etherium investment strategy ahead of the merger, which is an extremely anticipated technological upgrade to the Etherium blockchain.
Dogecoin and other meme coins
Elon Musk, the richest man in the world at the moment, stands out among the most famous billionaire investors for his willingness to embrace the volatility and uncertainty surrounding meme coins such as Dogecoin. In fact, he is known as Dogefar on social media for his tremendous role in bringing Dogicoin to the masses. He seems to relish the opportunity to send the value of Dogecoin up or down with a single tweet and regularly sends out emails designed to appeal to the Dogecoin community on Twitter.
In early August, for example, he tweeted a photo of him and his son with identical hairstyles. This led to Dogecoin fans begging him to send a photo of his son and his pet dog, a Ciba Inu named Floki. When Musk complied, it almost broke the Internet — in addition to Dogecoin and Shiba Inu, people were even pumping out a little-known coin meme called Floki Inu, a cryptocurrency named after Ilon’s dog. What’s really interesting – and perhaps a little scary – is that fans of Dogecoin and Ilon Musk can also buy a crypto called Dogelon Mars. The ticker symbol, naturally, is ELON.
If you are trying to emulate the success of the richest investors in the world, Bitcoin and Etherium should be at the top of your crypto shopping list. Depending on how much risk you are willing to take, you might also consider taking a position in your favorite mem coin. But just remember – the value of any asset can drop to zero, and that includes crypto assets named for pet dogs.
