A Twitter account promoting the Shiba Inu cryptocurrency did not get what it was hoping for when it asked Elon Musk how much $Shib he owns. "None," was Musk's one-word response.
Then Musk followed up: "Out of curiosity, I acquired some ascii hash strings called 'Bitcoin, Ethereum & Doge'. That's it." Two of those make logical sense, of course: Bitcoin and ethereum are two of the biggest names in crypto. Dogecoin, for anyone else, would seem like a crazy bet, but when you're Elon Musk and can juice the price by posting a single meme on Twitter? It might be as good an investment as any.
As tends to happen when Musk promotes a coin, the price of bitcoin, ethereum and dogecoin have all jumped in the hours since Musk's tweet. As for Shiba Inu? It dipped after Musk's tweet, but has still been on an upward tear over the last few weeks.
But Musk did add some investment advice to his tweet. "As I've said before, don't bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form."