People follow him because he is the biggest man in cryptocurrency What he says happens. Is one of the people and when he speaks it is clear and easy.
He is a successful man in cryptocurrency The coin he talks about gets his price up. a few days ago he tweeted about dogecoin and check his price where are you. I think that's why people follow Elon Musk.
People follow him because if he is interested in something then that project will have a lot of money coming towards it. That increases the value of those projects or companies. He is one of the most influential men on the earth who can spike something and or treat something down with just a single tweet. Follow him follow the future and this is what many people doing.