As you might know, the price of cryptocurrency is less dependent on economic things like GDP and more dependent on news hype. Hence, crypto influencers can really make big waves when it comes to buying and holding and active trading as well. Due to their reputation, and most likely, notorious net worth, even one word they say may affect the markets. So whether you do bitcoin trading in Canada or just curious about the crypto maniacs of the world, you need to know these guys. Let’s explore the list of Top 3 crypto influencers as of the beginning of 2021 and try to see why are they so influential.
You knew he’d take the first place, right? Elon Musk is definitely a big deal in the crypto influencers’ world. As soon as he hashtags bitcoin on Twitter – it surges a few thousand dollars up in a matter of minutes. And that’s just the beginning. For sure, everyone heard the big news about Tesla’s purchase of bitcoin worth $1.5 billion which skyrocketed the market for bitcoin-like crazy. Interestingly enough, large multinational companies have been buying big bitcoins even before Tesla, in 2020. That influenced the bullish trend but not in such an enormous proportion as it happened after the news about Elon Musk. Why does he have some magic effect among the crypto believers’ crowd – still remains a secret.
Perhaps, one of the reasons could be that he’s been the advocate of individual investors in their public fights against hedge funds. The case was about vanished funds for trading shares of GameStopCorp through the Robin Hood app. Hedge funds started massively shorting the shares of this tech company, which is why they dropped in price significantly. After that, a group of individual investors decided to do a similar move but in the opposite direction – they began buying those shares. As a result, hedge funds lost great amounts of money, and users of the app found that the shares were sold from their accounts without their permission which is why they also lost money. After the suicide of a 20-year old trader, Robin Hood faced dozens of lawsuits. Elon Musk at the time publicly called shorting a scam and obviously, he won the hearts of people.
Elon is also known as the “papa” of the Dogecoin – the cryptocurrency that used to be a joke but which doesn’t look like one anymore. He’s been continuously pushing it “to the moon” perhaps testing his influence on the audience. Indeed, after Musk’s campaign, Dogecoin surged in price, whether it was one of his sophisticated jokes or not. So did the Mars coin which no one even thought it existed until it was a subject of a joke on a radio show. It wasn’t even a claim by Elon Musk but a joke about what a cryptocurrency of his own would be like made by crypto experts. Well, as you can see, even the funniest joke has all chances to become reality whenever it has anything to do with the name of Elon Musk.
Out of all the social networks out there, Twitter is one of the most popular hubs where crypto enthusiasts gather. They discuss there the latest news, argue on each other’s opinions, and try to push Dogecoin to the moon. Twitter’s CEO Jack Dorsey also happens to be a dedicated Bitcoin supporter. Bitcoin’s hashtag appears with a small logo on Twitter which might also signify Dorsey’s love for this coin. Simply known as Jack, this person has also been making waves in the crypto industry.
However, large Twitter investors have recently made an attempt to replace Jack with someone else of their choice. In their opinion, he was acting discriminative towards conservatives. As soon as the crypto community heard this news, they have started a movement called #StandWithJack. Ethereum’s Vitalik Buterin and Elon Musk also backed Dorsey. After such huge support, Jack Dorsey was left in his chair and continues to rule Twitter. In one of his latest posts, he also announced that he started running a node on bitcoin, which, presumably, affected the continuation of the bull run for this cryptocurrency, among other reasons.
Michael Saylor is a less known public figure, although his influence on the crypto world is nevertheless significant. He is the co-founder of MicroStrategy, famous for its large bitcoin purchases back in 2020 when the bull rally wasn’t so obvious as it became closer to the beginning of 2021. It is rumored over Twitter that Michael Saylor was the one to help Elon Musk with transferring part of Tesla’s capital into bitcoin. Before his consultation and maybe even direct help, Elon Musk didn’t even know how to perform such large crypto transactions. This can be proved by a series of posts on the abovementioned social media website. Elon posted a meme about bitcoin, and Michael replied under his post that he recently bought $1.3 billion worth of bitcoin and that he would tell the details in a private conversation.
Michael Saylor has been one of the most convinced bitcoin maximalists and he proves himself right. Perhaps the waves that he made by his own purchases have created an avalanche effect and other large investors believed that it was possible too. Another prominent example is Gene Simmons, the former singer of the KISS rock band. He claimed to have bought seven-figure of bitcoin and a whole lot of Dogecoins, which is why he even referred to himself as “God of Dogecoin”. Meanwhile, Saylor says that he holds over 17,730 bitcoins. It seems like Michael deliberately pushed bitcoin forward to reach some of his own investment goals. He also spoke about bitcoin strategies for corporations at the crypto conference in 2021 which gathered more than 8,000 crypto enthusiasts online. Michael speaks very professionally, touching the economic intricacies of things, which sounds the most convincing and reasonable out of all the other crypto influencers.