Cryptos

Tesla CEO Elon Musk Confirms He Will Proceed to Purchase and Assist Dogecoin Cryptocurrency

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Tesla and Spacex CEO Elon Musk has reaffirmed his dedication to dogecoin (DOGE). He confirms that he’ll proceed to purchase and assist the meme cryptocurrency. Dogecoin worth spiked following his statements amid a downturn within the crypto market.

Elon Musk reaffirms his dedication to Dogecoin

Tesla CEO Elon Musk reiterated his assist for the dogecoin cryptocurrency meme a number of occasions over the weekend. On Sunday, Musk tweeted that he would proceed to assist DOGE. He additionally indicated that he would proceed to purchase the meme coin.

On Saturday, the Tesla boss additionally talked about DOGE on Twitter in response to a tweet from Dogecoin co-creator Billy Markus stating his “need” for individuals to make use of DOGE “for one thing past pumping and dumping… it due to this fact has a motive to exist”.

Musk tweeted that dogecoin can be utilized to purchase items at his firms, Tesla and Spacex, hinting that extra could possibly be provided “down the street”.

Tesla started accepting dogecoins for sure merchandise in January. Final month, Musk stated Spacex would quickly settle for DOGE for merchandise, and Starlink subscriptions might quickly comply with.

As of this writing, DOGE is buying and selling at $0.062662, up 25% within the final 24 hours however down 30% within the final 30 days.

Musk has lengthy been a supporter of dogecoin. He’s recognized within the crypto neighborhood as Dogefather. He thinks DOGE is the individuals’s crypto and has potential as a foreign money. In distinction, he stated bitcoin was extra appropriate as a retailer of worth.

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

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

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

What do you consider Elon Musk saying he’ll proceed to purchase and assist dogecoin? Tell us within the feedback part under.

Kevin Helms

An economics scholar from Austria, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His pursuits embrace Bitcoin safety, open supply methods, community results, and the intersection between economics and cryptography.

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