When the "dogefather" Elon Musk gave the crypto currency Dogecoin his recently withdrawn blessing a few days ago via Twitter, it was deep night in this country.
Most crypto-followers are likely to have learned of the U-turn of the controversial Tesla boss and stock market pop star only the next morning, when, drowsy, they reached for their smartphone, checked the prices and realized that the Dogecoin, initially ridiculed as a fun currency, had risen rapidly.
Damn it, you missed entry again!
Maybe on the next Musk tweet, if you don't oversleep it.
The homo ludens, who thanks to a large selection of apps now always carries the casino in his pocket, can continue to hope. Because Elon Musk, the “central banker of cryptos”, who is followed by almost 55 million people on Twitter, seems to want to prove to the markets again and again that information is the most important resource in casino capitalism. In the interplay between the financial industry, information capital and opinion markets, writes the cultural scientist Joseph Vogel in his book “Capital and Resentment”, the code of information has become a general standard of value that determines economic business cycles as well as the excitation curves in social media. When Donald Trump tweeted, he produced breaking news worldwide, when Elon Musk tweeted, he sometimes triggers massive price fluctuations in the markets,and the American Securities and Exchange Commission is getting restless.
In addition, the wasteland of the pandemic has fueled the instinct to play, especially among young adults, many of whom seem to believe more in the power of memes and less in long-term financial strategies and portfolio diversification. In the troublemaker Musk, those whose elixir of life is thrill find their master. While Wallstreetbets Musk is both celebrated and demonized in the Reddit sub-forum, Sotheby's in New York has allowed its customers to pay for a non-digital work of art with Bitcoin or Ether for the first time, without any social media roar. The auction house was not disturbed by Musk's Twitter capers. Incidentally, a painting by street artist Banksy entitled "Love is in the air" was auctioned for almost thirteen million dollars. If that's not a mistake.