Home Crypto Elon Musk Says He Supports Doge Because It ‘Felt Like the People’s Crypto’

Elon Musk Says He Supports Doge Because It ‘Felt Like the People’s Crypto’

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Elon Musk Says He Supports Doge Because It ‘Felt Like the People’s Crypto’

Elon Musk shared various cryptocurrency tweets over the weekend, together with one the place he praised Dogecoin as the “folks’s crypto.”

The SpaceX and Tesla CEO made the declare whereas replying to tweet a few survey stating that just about one third of cryptocurrency homeowners in the U.S. personal Dogecoin, a web based cost system primarily based on the “doge” web meme that includes a Shiba Inu canine which was initially created as a joke earlier than its worth skyrocketed to tens of billions of {dollars}.

“Lots of individuals I talked to on the manufacturing strains at Tesla or constructing rockets at SpaceX personal Doge. They aren’t monetary specialists or Silicon Valley technologists. That’s why I made a decision to help Doge—it felt like the folks’s crypto,” Musk tweeted on Sunday.

Musk additionally commented on potential enhancements when requested whether or not he had any current interactions with the Doge growth workforce.

“Not lately. What issues imo [in my opinion] is reducing charges, reducing block time & rising block measurement. A single layer community with exchanges as de facto layer 2 looks as if the easiest resolution for a medium of change,” Musk stated.

Dogecoin co-creator Billy Markus responded to Musk’s Doge enchancment tweet.

“Imo dogecoin being quick, scalable, and cheap to ship round is all it must be, it does not should be yet one more blockchain that hosts NFTs or different tokens or no matter the tech to get there may be advanced, however that utility is straightforward and wanted—magnificence in simplicity,” Markus wrote. Musk responded with the 100 emoji.

In one other tweet, Musk confirmed that he’s solely holding three cryptocurrencies—bitcoin, ether, and dogecoin.

“As I’ve stated earlier than, do not guess the farm on crypto! True worth is constructing merchandise & offering providers to your fellow human beings, not cash in any kind,” he wrote.

On Friday, the billionaire additionally responded to a tweet from the UberFacts Twitter account which stated that he’s “predicted to change into the world’s first trillionaire, due to SpaceX.” Musk replied: “*In Dogecoin.”

This just isn’t the first time Musk has tweeted about Dogecoin, and beforehand declared it the “folks’s crypto” in February.

The worth of the token additionally appears to rise each time Musk tweets about it.

In July, the worth of Doge spiked after Musk tweeted “Release the Doge!”

An analogous spike additionally occurred in August after Musk tweeted: “I’ve been saying this for a while,” in response to a submit from CNBC’s account detailing an interview with Dogecoin co-founder Mark Cuban describing it as “the strongest in relation to utilizing it as a medium of change.”

On Monday morning, the worth of Dogecoin rose by as a lot as 8 % in the wake of Musk’s newest tweets about the cryptocurrency, in response to CoinDesk.

elon musk dogecoin
Elon Musk speaks onstage at the Elon Musk in Conversation with Todd Howard panel throughout E3 2019 at the Novo Theatre on June 13, 2019 in Los Angeles, California. Musk praised Dogecoin as the “folks’s crypto” in a tweet on Sunday.
Charley Gallay/Getty Images

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