Tesla CEO Elon Musk Confirms He"ll Keep Buying and Supporting Dogecoin
Tesla and Spacex CEO Elon Musk has reaffirmed his commitment to dogecoin (DOGE). He confirms that he will keep buying and supporting the meme cryptocurrency. The price of dogecoin climbed following his statements amid a crypto market downturn. Elon Musk Reaffirms Commitment to Dogecoin
Tesla CEO Elon Musk reaffirmed his support for the meme cryptocurrency dogecoin a few times this weekend. On Sunday, Musk tweeted that he will keep supporting DOGE. He also indicated that he will keep buying the meme coin.
On Saturday, the Tesla boss also mentioned DOGE on Twitter in response to a tweet by Dogecoin co-creator Billy Markus stating his “desire” for people to use DOGE “for something beyond pump and dump … so it has a reason to exist.”
Musk tweeted that dogecoin can be used to purchase merchandise at his companies, Tesla and Spacex, hinting that more could be offered “down the road.”
Tesla began accepting dogecoin for some merchandise in January. Last month, Musk said Spacex will soon accept DOGE for merchandise and Starlink subscriptions could soon follow suit.
At the time of writing, DOGE is trading at $0.062662, up 25% in the past 24 hours but down 30% over the last 30 days.
Musk has long been a supporter of dogecoin. He is known in the crypto community as the Dogefather. He believes that DOGE is the people’s crypto and has potential as a currency. In contrast, he said bitcoin is more suitable as a store of value.
The Tesla chief also previously revealed that he personally owns some DOGE in addition to BTC and ETH.
Last week, a dogecoin investor sued Musk, Tesla, and Spacex for promoting the meme crypto. The $258 billion class-action lawsuit alleges that Musk and his companies “falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.” The plaintiff claims that Musk, Tesla, and Spacex “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.”
Musk also hinted last week that cryptocurrency payments will be integrated into Twitter if his bid to buy the social media company is successful. However, the 444 billion deal is currently on hold, and Musk has accused Twitter of a material breach of their merger agreement. Tags in this story Doge, dogecoin, Elon Musk, elon musk buys dogecoin, elon musk doge, elon musk dogecoin, elon musk supports dogecoin, spacex dogecoin, tesla dogecoin
What do you think about Elon Musk saying he will keep buying and supporting dogecoin? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Defi Protocol Abracadabra"s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout ALTCOINS | 1 day ago The Number of Tethers in Circulation Dropped by Over 12 Billion in 2 Months, USDC Grew by 9% ALTCOINS | 3 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSalvadoran President to Bitcoin Investors: Your BTC Investment Is Safe, Will Immensely Grow After Bear Market Next articleKevin O’Leary Says He Won’t Sell Any Crypto Despite Downturn – ‘You Just Have to Stomach It’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design