Elon Musk has revealed the real reason he supports the cryptocurrency dogecoin meme. He explained that many of the people he talks to at his companies, Tesla and Spacex, own dogecoin, noting that “it was like people’s crypto.”
Lots of people Elon Musk talks to at Spacex and Tesla Own Dogecoin
Tesla and Spacex CEO Elon Musk revealed on Sunday the real reason he started backing dogecoin. He noted that many people he talks to at both companies own the cryptocurrency itself.
Responding to a tweet from dogecoin holder Glauber Contessoto, who said the call for DOGE is real, referring to a survey which found that about a third of US cryptocurrency holders own the cryptocurrency meme, Musk wrote:
A lot of people I’ve spoken to on Tesla’s production lines or rocket building at Spacex own Doge. They are not financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it was like people’s crypto.
The Doge community welcomes Musk’s comments and support. “Most of us don’t come from privileged backgrounds and honestly can’t relate to the experts in Silicon Valley,” Contessoto replied. “We just want to believe in a crypto that represents us all. Dogecoin is the little guy embodied in crypto, which is why we love him. We appreciate your support, Elon.
A survey by the price comparison portal Finder shows that more people in the United States own dogecoins than in any other country. The survey indicates:
Dogecoin is seeing its highest adoption in the United States with 30.6% of crypto owners claiming to own dogecoins. That’s 1.6 times the global average adoption rate of 19.2%.
At the time of writing, the price of dogecoin has risen 11.31% over the past week, with DOGE standing at $ 0.2664 based on data from Bitcoin.com Markets.
Musk previously said he personally owns three cryptocurrencies: bitcoin, ether, and dogecoin. On Sunday, he tweeted several important dogecoin improvements and confirmed that he does not own any shiba inu tokens. In August, the Tesla boss agreed with Shark Tank star Mark Cuban that dogecoin is the “strongest” crypto for payments.
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