Tesla CEO Elon Musk Confirms He Will Keep Buying and Supporting Dogecoin – Altcoin Bitcoin News

Tesla and Spacex CEO Elon Musk has reiterated his commitment to Dogecoin (DOGE). He confirmed that he will continue to buy and support meme cryptocurrencies. The price of Dogecoin climbed following his statement amid a slump in the cryptocurrency market.

Elon Musk Reiterates Commitment to Dogecoin

Tesla CEO Elon Musk reiterated his support for the meme cryptocurrency Dogecoin several times this weekend. On Sunday, Musk tweeted that he would continue to support DOGE. He also said that he will continue to buy meme coins.

The Tesla boss also mentioned DOGE on Twitter on Saturday, in response to a tweet from Dogecoin co-founder Billy Markus, saying he “wants” people to use DOGE for “transcendence” Pumping and dumping stuff…so it has a raison d’être.”

Musk tweeted that Dogecoin could be used to buy goods at his Tesla and Spacex companies, hinting that “the future” may offer more.

Tesla starts accept Dogecoin for some commodities in January.Last month, Musk said SpaceX Merchandise from DOGE will be accepted soon, and Starlink subscriptions may soon follow suit.

At the time of writing, DOGE is trading at $0.062662, up 25% in the past 24 hours but down 30% in the past 30 days.

Musk has long been a supporter of Dogecoin. He is known as the godfather in the crypto community.He thinks DOGE is People’s cryptocurrency and have Potential as a currency. In contrast, he said Bitcoin is better suited as a store of value.

The head of Tesla also previously revealed that he Personally owned except for some DOGE Bitcoin and Ethereum.

Last week, a Dogecoin investor sue Musk, Tesla and Spacex are used to promote meme encryption. The $258 billion class-action lawsuit accuses Musk and his company of “falsely and deceptively claiming that Dogecoin is a legitimate investment that has no value at all.” The plaintiffs claim that Musk, Tesla and Spacex “Participated in a crypto pyramid scheme (aka Ponzi scheme) through the Dogecoin cryptocurrency.”

Musk also hinted at cryptocurrency payments last week will be integrated If he succeeds in acquiring the social media company, he will be on Twitter.However, the current 444 billion transactions on holdwhile Musk has defendant Twitter seriously violated their merger agreement.

What do you think of Elon Musk saying he will continue to buy and support Dogecoin? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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