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SHARE For the past four months, Dubai resident Shashwat Phumbhra, a 28-year-old Indian equity analyst and trader, has been investing in Dogecoin but says his investment in the cryptocurrency does not depend on Tesla chief executive Elon Musk’s tweets. “If one is making investment decisions on the basis of a billionaire’s tweet, there is a problem with the investor,” he tells The National. However, he is a big fan of Mr Musk and Tesla shares make up a big portion of his investment portfolio. Mr Phumbhra first bought Dogecoin when it was priced between $0.05 and $0.07 and it multiplied in value. He added more Dogecoin to his portfolio when it was trading at $0.25 and $0.3. He later exited his holding when the parody cryptocurrency was valued at between $0.4 and $0.6. Although he has booked a tidy profit, he declined to say how much he invested.

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