Billionaire Elon Musk said on Sunday that he supports major owners of the Dogecoin-based digital money meme that sells most of their coins, adding that it felt too crowded. in Dogecoin as the “real issue”.
“If Dogecoin’s top holders sell most of their coins, it will get my full support. Excess density is the only real issue imo,” Musk said in a tweet.
If major Dogecoin holders sell most of their coins, it will get my full support. Excess density is the only real issue imo.
– Elon Musk (@elonmusk) February 14, 2021
A well-known fan of cryptocurrencies, Musk has been steadily embracing the recent frenzy in retail investment, driving Dogecoin prices and shares of the US video game series GameStop.
The electric vehicle company Musk revealed to Tesla on February 8 that they had purchased $ 1.5 billion (approximately Rs. 10,890 crores) of the cryptocurrency Bitcoin and would soon accept it as a payment method for cars.
The news comes on the heels of Bitcoin’s graceful social media adoption of Musk, marking the latest step in the cryptocurrency’s mainstream.
The value of Bitcoin has gone up about 50 percent this year, but skeptics say it remains highly volatile and regulators warn it is vulnerable to illegal use.
Musk, an expert on disturbing corporate norms as well as economic structures, had briefly changed his Twitter bio to just read “#bitcoin.
It has also been brought to social media in the last few days to promote Dogecoin, another digital currency that was launched as a joke but which has suddenly become more valuable.
Dogecoin jumped to $ 0.05798 (around Rs. 4) according to data on the Cochainesk blockchain and cryptocurrency website. Earlier this month, Musk first tweeted “Doge” and immediately followed “Dogecoin is the crypto of the people”
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