Tesla and SpaceX CEO Elon Musk has said he will continue to buy and support the DOGE meme even as the crypto market declines.
Elon Musk has reaffirmed his commitment to Dogecoin. Over the weekend, he mentioned DOGE in response to a tweet from co-creator Billy Markus, who goes by the pseudonym Shibetoshi Nakamoto. Marcus expressed his wish that people use DOGE for more than just “pump and dump” because this coin has many other reasons to exist.
I will keep supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
Musk told him that the “dog coin” could be used to buy goods offered by Tesla and Spacex. He also hinted that DOGE could be expanded in the future. With his tweets, Musk managed to briefly “throw up” the DOGE rate to $0.062, after which it began to decline again.
Tesla and SpaceX merch, maybe more down the road
— Elon Musk (@elonmusk) June 18, 2022
In January, automaker Tesla began testing accepting DOGE payments for some items, and in May, Musk announced that SpaceX would also soon begin accepting this cryptocurrency as payment for merchandise. The Tesla boss has always been a supporter of Dogecoin. He is confident that DOGE is a “people’s” cryptocurrency that has great potential for making daily payments. Musk revealed that he owns DOGE coins, in addition to bitcoin and ether.
Last week, a Dogecoin investor sued Musk for promoting the project, seeking $258 billion in damages. The plaintiff accused the billionaire of making false claims that investments in DOGE were considered legitimate. The lawsuit claims that this crypto asset has no real value, while Musk advertises a conventional cryptocurrency pyramid scheme.
Source: Bits
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