'The Elon Musk Effect' on Cryptocurrency Markets

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  • Elon Musk
    Elon Musk
    South African–born American entrepreneur

Tesla CEO Elon Musk's tweets have tended to impact the price movement of cryptocurrencies. Following his comments in January, dogecoin's value grew by about 216% following his remarks, and at one point in May, the entire crypto sector lost nearly $1 trillion. What is the extent of his influence on the crypto markets? CoinDesk's Emily Parker, "Dogecoin Millionaire" Glauber Contessoto, and financial journalist Jay Derenthal weigh in.

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