The richest person in the world explains why he continues to support Dogecoin

The richest person in the world explains why he continues to support Dogecoin

Tuesday (June 21) Elon Musk, CEO of Tesla and SpaceX, the world’s richest person with an estimated net worth of approximately $ 214 billion (June 21, 2022) According to Forbesexplained why he finds it necessary to support the meme-based cryptocurrency Dogecoin ($ DOGE).

Dogecoin was originally exempt December 6, 2013 as a “fun and friendly Internet currency.” It was created by Billy Markus and Jackson Palmer. It is a “decentralized, peer-to-peer currency” mascoted by Doge, Shiba Inu (Japanese dog breed).

Since then, its popularity has grown significantly, especially this year, mainly thanks to the support of billionaires Elon Musk (CEO of Tesla and SpaceX) and Mark Cuban, making it currently the 10th most valuable cryptocurrency in its market value. more than $ 8.64 billion. In fact, in 2019, Musk said $ DOGE might be his favorite cryptocurrency.

Musk’s comments were made in due course talking With John Micklethwait, editor-in-chief of Bloomberg News, at the Qatar Economic Forum in Doha.

When Micklethwait asked whether Musk – given the recent massacre in the cryptocurrency market – should continue to invest in cryptocurrency surveillance, Tesla’s CEO said:

I never said people should invest in crypt. In the case of Tesla, SpaceX and me, we all bought Bitcoins, but that’s a small percentage of our cash and cash…

I also bought Dogecoin, and Tesla accepts Dogecoin for some products, and SpaceX does the same.

And I will personally support Dogecoin because I only know many people who are not so wealthy who have encouraged me to buy and support Dogecoin; So I respond to those people… When I walk into the SpaceX or Tesla factory, they have asked me to support Dogecoin; so i do.

Last Sunday (June 19), Musk tweeted that he would continue to support Dogecoin, which wasn’t very surprising since he’s said nice things about Dogecoin on Twitter for the past three years.

What was surprising, however, was what Tesla’s CEO said after one pseudonymous cryptanalyst (“Altcoin Gordon”) sued him to buy a DOGE dollar, to which Musk replied that he is.

According to Trading View, Coinbase $ DOGE is currently trading at approximately $ 0.0561 (up 9.53% over the past 24 hours) on the cryptographic exchange (June 21 at 1:38 PM UTC).

h/t – CryptoGlobe

Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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