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Probably what Elon does: Buys X crypto -> Promotes X crypto or advertises that he plans buying or that he already did -> Sells X crypto for profit

In this order.

Some will get hurt while he’ll earn tons of FIAT.

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I doubt that he does that. I suspect his doge holding is modest and for fun and not something he is hoping to make much dough with.

Similar to how he memes without direct profit all the time and how he is mining at loss just as a fun home project.

He splashed 1.5 billion on BTC - thats hardly modest. Perhaps he holds a small amount of doge but i bet he didnt just risk it blindly on btc. And since crypto is rather unregulated i wouldnt be surprised if he manipulated things a bit to his advantage. Anyways just speculation on my part.

He didn't, Tesla did. They added bitcoin to their asset holdings and it is on their balance sheet. Sure, he has significant control of the financial decisions within the company, but it is a publicly held company and it has a CFO that has to sign on to decisions like this based on what's good for Tesla, not based on what's good for Elon.

Elon is not the only high profile figure championing dogecoin, e.g. Mark Cuban, who arguably has a larger fan base.

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