It’s official, again: Elon Musk backs Dogecoin.
It’s official, again: Elon Musk backs Dogecoin. Musk, chief executive officer of Tesla Inc. and SpaceX, reiterated his support for Dogecoin, a cryptocurrency created as a joke in 2013, on Tuesday. He noted that Tesla accepts Dogecoin for merchandise and reiterated that SpaceX will soon do so.
“A lot of people who are not rich have encouraged me to buy and support Dogecoin,” Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum in Doha. “I’m answering those people.”
Dogecoin price is up 3% at 8:33 am in London and down 64% this year. The token rose about 9% in the span of a few hours on Sunday after Musk tweeted that he would continue to back it and that he was continuing to buy it.
Musk has been vocal about crypto in recent years, even as the market is moving at times. He helped boost Bitcoin in early 2021 when Tesla bought some tokens for his corporate coffers – earlier saying that the price looks “high” and expressing concerns about energy usage in mining Bitcoin, both caused the drop.
In March, Musk reiterated that he owns Bitcoin, Ether, and Dogecoin and said he would not sell them.
He’s a particular Dogecoin proponent, posting on Twitter about everything from mining meme tokens with his kids to SpaceX placing a “literal Dogecoin on the literal moon.” Dogecoin’s price hit a record in May 2021 ahead of Musk’s appearance on “Saturday Night Live” when he was widely expected to mention it on the show, then dropped as he called it a “disruption.” Rush”.
