Elon Musk losing cryptocurrency investors influence: his latest tweets fail to boost dogecoin or bitcoin - What has come to be called the "Elon Musk Effect" is losing strength. This phenomenon is based on the fact that with a simple tweet from the billionaire the cryptocurrency market is completely revolutionized, causing the prices of tokens to skyrocket or fall.

The founder of Tesla has been a key player in the volatility of cryptocurrencies such as bitcoin and dogecoin, for example when he announced Tesla's investment in bitcoins worth 1.5 billion dollars (just over 1.2 billion euros), which catapulted their value. He then helped the value of bitcoin drop, when he announced that Tesla would no longer accept payments with it because it was too polluting.

In recent months he has praised the potential of dogecoin, the cryptocurrency of the meme dog, but this second half of 2021 it seems that Musk's opinions no longer have as much influence. Last Thursday he posted a couple of tweets promoting dogecoin, which went up 7%, far from the hikes he experienced until recently. On Friday he launched a new tweet in which a man appeared focusing with a laser on this cryptocurrency born of a joke.

Elon Musk losing cryptocurrency investors influence

Last May Dogecoin went up 20% after the founder of Space X did a survey on Twitter asking his followers if they wanted Tesla to accept payments with the dog cryptocurrency.

"It seems that investors are no longer listening to him as much and are finally realizing that a man's tweets should not be the deciding factor in buying or selling his assets," points out Alexandra Clark, sales commercial for British cryptocurrency trading platform GlobalBlock.

Elon Musk losing cryptocurrency investors influence: As of Friday, the price of dogecoin had fallen by around 65% to about 24 cents (just over 20 cents) from its peak of 68 cents in May. This Monday its price was still about 24 cents (about 0.57 euros).

Several dogecoin investors via the Robinhood platform, pointed out Thursday that the meme cryptocurrency had accounted for 34% of all their cryptocurrency revenues during the first quarter of the year. The company, however, has warned that its business could be affected if demand for dogecoin dropped and interest was not replaced by other cryptocurrencies.

Elon Musk losing cryptocurrency investors influence

Some voices have criticized Musk for his bursts of tweets, which cause prices to experience a roller coaster, and accused him of manipulating the market. With millions of people investing in cryptocurrencies around the world, Musk's influence is potentially dangerous, encouraging decision-making based on minimal or no research.

Since Musk announced its break with bitcoin, the world's most popular cryptocurrency has gone through a kind of truce. He did not have a strong reaction when the Tesla boss predicted a "promising" future for dogecoin if the asset became more environmentally friendly, nor when he pointed out that his electric vehicle company would accept it again as payment if miners showed they were using 50% "clean" energy to get the cryptocurrency.

Elon Musk losing cryptocurrency investors influence: Bitcoin was trading on Friday at about $ 33,000 (about 28,000 euros), almost half as high as it was at its April peak. Even so, it has risen 15% so far this year.

Cryptocurrency investors are finding it increasingly difficult to be quick but balanced in decision-making amid the flow of information from a voice as relevant as Musk's. However, it seems that investors are getting tired of Musk's tweets and could make his influence little more than a passing fad.

Elon Musk losing cryptocurrency investors influence

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Some 200,000 self-employed workers will have to return a Social Security contribution due to the lack of communication between the Treasury and the mutual societies

About 200,000 self-employed people are in debt to Social Security. The lack of fluidity of communication between the Treasury and the mutual societies has caused them to be doubly exonerated. Therefore, they will have to return a fee.

The information is provided on the web autónomosyemprendedores.es and the explanation is the following: all the self-employed who paid the cessation of activity until May were exempted, by default, from the payment of the fee in the current month of June 2021, without differentiating those who were going to reapply for aid, from those who did not plan to do so.

But there are about 200,000 who have been granted such aid. Initially (in this generalized exemption), they were charged only 10 per cent of the quota, with the remaining 90 per cent falling within the exemption. But, when they were granted the aid again, the mutual societies have returned an entire quota, so, currently, they have a balance owed to the Social Security of 250 euros (if they contribute for the minimum), which corresponds to 90% of the quota.

In statements autónomosyemprendedores.es, Social Security sources claim that the system is that, first, the self-employed pay their quota, and then the mutual society pays it back. However, they recognize, " the communication between the Treasury and mutual societies is not instantaneous”.

Therefore, all those self-employed workers who have been recognized with the POECATA (about 96,000) or the new low-income benefit (about 133,000), only paid 10%, but the mutual society returned the full quota.

In the near future, they explain, the Treasury of the Social Security will check the information with the mutual societies and the situation will be regularized.

Although the cases are less, there is also the option that Social Security owes money to the self-employed. This happens to those who joined one of the modalities of cessation of activity that entailed 100% exemption and in which the mutual societies do not return the money, but, directly, the fee is not charged.

But, by making a generalized default charge, they have been made to pay it. There are approximately 1,360 self-employed workers, to whom the 10% they have paid will have to be returned. If you are one of those affected, on this website of the Social Security you can manage the refund.

The third group of self-employed, the most majority (250,000), is those who are 'at peace' with Social Security. They are those who paid the cessation of activity until May, but, after, they have not applied again for aid.