Tesla CEO Elon Musk Confirms He’ll Keep Buying and Supporting Dogecoin – Altcoins Bitcoin News


Tesla and Spacex CEO Elon Musk has reaffirmed his dedication to dogecoin (DOGE). He confirms that he’ll maintain shopping for and supporting the meme cryptocurrency. The value of dogecoin climbed following his statements amid a crypto market downturn.

Elon Musk Reaffirms Dedication to Dogecoin

Tesla CEO Elon Musk reaffirmed his help for the meme cryptocurrency dogecoin a number of occasions this weekend. On Sunday, Musk tweeted that he’ll maintain supporting DOGE. He additionally indicated that he’ll maintain shopping for the meme coin.

On Saturday, the Tesla boss additionally talked about DOGE on Twitter in response to a tweet by Dogecoin co-creator Billy Markus stating his “want” for folks to make use of DOGE “for one thing past pump and dump … so it has a motive to exist.”

Musk tweeted that dogecoin can be utilized to buy merchandise at his firms, Tesla and Spacex, hinting that extra may very well be provided “down the highway.”

Tesla started accepting dogecoin for some merchandise in January. Final month, Musk mentioned Spacex will quickly settle for DOGE for merchandise and Starlink subscriptions might quickly observe swimsuit.

On the time of writing, DOGE is buying and selling at $0.062662, up 25% prior to now 24 hours however down 30% during the last 30 days.

Musk has lengthy been a supporter of dogecoin. He’s recognized within the crypto group because the Dogefather. He believes that DOGE is the folks’s crypto and has potential as a foreign money. In distinction, he mentioned bitcoin is extra appropriate as a retailer of worth.

The Tesla chief additionally beforehand revealed that he personally owns some DOGE along with BTC and ETH.

Final week, a dogecoin investor sued Musk, Tesla, and Spacex for selling the meme crypto. The $258 billion class-action lawsuit alleges that Musk and his firms “falsely and deceptively declare that dogecoin is a official funding when it has no worth in any respect.” The plaintiff claims that Musk, Tesla, and Spacex “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by means of dogecoin cryptocurrency.”

Musk additionally hinted final week that cryptocurrency funds will likely be built-in into Twitter if his bid to purchase the social media firm is profitable. Nonetheless, the 444 billion deal is at present on maintain, and Musk has accused Twitter of a fabric breach of their merger settlement.

What do you consider Elon Musk saying he’ll maintain shopping for and supporting dogecoin? Tell us within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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