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A third of Americans inspired by Elon Musk’s Tweets – Survey

The survey was directed around the time when Musk’s tweets led to record jumps for Dogecoin.

Tech billionaire magnate Elon Musk has shifted into an influential figure in the cryptocurrency and stock trading world of late, moving markets by tweeting out to his 48.7 million followers.

As claimed by a new study conducted by the global consumer research platform Piplsay, Musk’s tweets have also led some American adults’ investment practices.

The survey was conducted across the U.S. between February 6 and 8 and received online responses from 30,400 individuals aged 18 and older. 

Over a third of the people surveyed — 37 percent — said they had personally made investments or thought about making an investment based on Musk’s tweets.

The data were collected when Musk’s casual Twitter banter led to record jumps for the cryptocurrency Dogecoin.

Later in February, Musk sent out another round of tweets, urging major Dogecoin holders to “sell most of their coins.” “Too much concentration is the only real issue IMO,” he wrote.

In a recent SEC filing, Musk’s electric car company Tesla announced that it injected an aggregate of $1.5 billion into Bitcoin and stated that it would start accepting the popular cryptocurrency as a payment form.

His various financial references on Twitter reportedly bothered U.S. regulators. However, Musk reacted by saying that it would be “awesome” if the Securities and Exchange Commission investigated his social media activity.

Fluctuations in the crypto world also appeared to affect Tesla’s market position. 

Last month, the company’s stocks dropped by 25 percent after Bitcoin experienced its single most significant value decline ever.

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