Tesla CEO Elon Musk is a staunch advocate of Dogecoin, one of the world’s most popular altcoin projects. Expressing his love for DOGE at every opportunity, Musk is known as the “Father of DOGE” by the crypto community. Recently, Tesla CEO gave an interview to Bloomberg at the Qatar Economic Forum held in Doha. The famous billionaire said: “Many people who are not that rich encouraged me to buy and support Dogecoin. I answer these people.”
Elon Musk takes from this altcoin project
Elon Musk shared in April 2019 that the altcoin project is his favorite project in the crypto space. The billionaire has been known to be a staunch advocate of Dogecoin ever since. However, it cannot be said that the meme cryptocurrency always comes to its aid. In May 2021, Tesla CEO participated in the “Saturday Night Live” program. Voicing his ideas about Dogecoin on the program, Musk described it as a “run”.
In fact, at that time, the altcoin was experiencing the best period in its history. As we reported as Kriptokoin.com, DOGE reached an all-time high of $ 0.76 before Musk’s statements. However, the CEO’s statements did not benefit the cryptocurrency. DOGE began to decline right after the program. However, the CEO of Tesla and SpaceX still remains a staunch supporter of Dogecoin. Musk said on Sunday that he will continue to support Dogecoin. He also stated that he will buy from the altcoin project:
Dogecoin founder responds to Elon Musk
After the sharing, Dogecoin inventor Billy Markus (Shibetoshi Nakamoto) responded to Musk. Markus said that the Tesla CEO has always supported DOGE and thanked him. He also listed his reasons for supporting the project and addressed Elon Musk:
“You were always serious about supporting the altcoin project that I thought was right. You find it amusing and appreciate satire and irony. You also think it has potential as a currency. That’s why your companies accept it as a payment method and bring more benefits to DOGE.”
Tesla and SpaceX can accept altcoin project as payment method
Over the weekend, the Dogecoin inventor expressed his current hopes for the altcoin project in a series of tweets. First, she wants Dogecoin to have a reason to exist. Second, she also wants the community to understand what crypto is and what the crypto market is. Third, he wants people to continue to develop and benefit from Dogecoin. Tesla CEO Elon Musk also backed the Dogecoin co-creator’s aspirations for utility and raison d’etre by saying “Tesla and SpaceX products, maybe in the future” and “more currency-like.” In fact, Elon Musk is facing a $258 billion lawsuit for promoting Dogecoin. However, the billionaire does not back down from his support for Dogecoin, as seen in his latest tweets.
How about Dogecoin price?
At the time of Musk’s share, Dogecoin increased by 5.41% from $ 0.062. But it has dropped 64% so far in 2022. The meme cryptocurrency surged nearly 9% on Sunday after Musk tweeted that he would continue to support and buy it. Meanwhile, the altcoin occupies a popular position among the top 2000 BSC wallets. As Cryptokoin.com reported, DOGE is among the top 10 most used cryptocurrencies among whales.
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