Elon Musk published a series of tweets about the Dogecoin cryptocurrency, after which its rate rose from $ 0.040 to $ 0.059, and over a week – by more than 300%.
Last week, the Tesla founder posted the word “bitcoin” in his Twitter profile description, causing Bitcoin to jump to $ 37,000. Musk has now removed the mention of Bitcoin and started tweeting Dogecoin. First the head of Tesla
wrote on Twitter “Doge”, and a few minutes later added a few more sentences: “Dogecoin is the cryptocurrency of the people”, then “No ups and downs, just Doge.” Such statements by Musk led to an increase in the price of Dogecoin in a matter of minutes. At the time of publication, the coin is trading at about $ 0.052.
Musk said he sometimes jokes about Dogecoin, which was created as a “joke” cryptocurrency. He recently wrote that “fate loves irony, so it will be quite interesting if Dogecoin is used around the planet in the future.” Musk believes that bitcoin is already on the cusp of widespread adoption in the financial sector. A few days ago, Musk called himself a supporter of the first cryptocurrency, regretting that he did not buy Bitcoin as soon as he found out about it. Today, the market capitalization of bitcoin exceeds $ 700 billion, and its rate continues to be kept within $ 37,500.
This is not the first time Elon Musk has expressed sympathy for Dogecoin. In December, he also tweeted one word “Doge” as the coin’s price jumped 20% to $ 0.0047.