As a seasoned crypto investor with over two decades of experience under my belt, I must admit that Elon Musk’s recent revelation about his Dogecoin holdings has piqued my interest. His public affection for the meme coin, coupled with his significant influence in the crypto space, could potentially drive massive momentum for DOGE.
It is believed that the CEO of Tesla and SpaceX, Elon Musk, personally owns some Dogecoin, aligning with his public admiration for this popular cryptocurrency meme coin.
A recording featuring Elon Musk’s voice disclosed that the wealthiest individual in the world possesses a substantial amount of Dogecoin. Additionally, Musk indicated that Tesla, his automobile manufacturing company, has significant holdings of Bitcoin (BTC), the most valuable digital currency, which surpasses the worth of Meta, Silver, and Saudi Aramco.
As a crypto enthusiast, I can’t confirm that the voice on the recording belongs to Elon Musk, but it certainly seems like he might have a substantial investment in the most prominent meme coin by market cap.
“I still own bunch of Dogecoin and SpaceX owns bunch of Bitcoin”
— DogeDesigner (@cb_doge) November 18, 2024
Dogecoin (DOGE), introduced in 2015, has experienced an astounding increase of approximately 431,691% over the past nine years from its initial release. Known for its Shiba Inu canine theme, this digital coin is deeply ingrained in crypto folklore as one of the early meme-based cryptocurrencies.
Starting from around 2018 up until 2021, Musk openly admired Dogecoin, aligning with the growing fascination in cryptocurrencies among the public. He found it intriguing on a technical level as a potential currency and amusing due to its meme origins. In early 2022, Tesla started accepting Dogecoin as a payment method for merchandise on their official website.
In 2021, Tesla temporarily invested in Bitcoin, but subsequently offloaded a portion of their acquired Bitcoins. Elon Musk pointed out the environmental impact of Bitcoin mining and maintenance as a primary concern. Yet, he hinted that Tesla might reevaluate its Bitcoin endorsement if energy efficiency matters were addressed.
Earlier this month, Tesla discreetly transferred approximately $769 million worth of Bitcoin to different digital wallets. Some analysts interpret this action as a change in Elon Musk’s stance towards Bitcoin, potentially signaling a resumption of Tesla’s involvement with the cryptocurrency.
Currently, DOGE holds the number one spot among meme cryptocurrencies, boasting a market cap of approximately $55 billion as we speak. The token reached an astounding $90 billion in market value last year but is currently trading around 50% below its all-time high.
As a crypto investor, I’m optimistic that Dogecoin (DOGE) might revisit its All-Time High (ATH) during this market cycle and potentially receive more public support from Elon Musk. In the month of August, a court ruling dismissed a massive lawsuit against Musk’s leadership at Tesla, clearing him of allegations that he was operating a Dogecoin pyramid scheme.
24 hours following the court’s decision, Musk expressed his interest in reintegrating Dogecoin onto Tesla’s system again.
Read More
- DEXE PREDICTION. DEXE cryptocurrency
- EUR INR PREDICTION
- Shilpa Shetty’s Mumbai restaurant under radar after BMW car worth Rs 80 lakh gets stolen from parking; REPORT
- ZIG PREDICTION. ZIG cryptocurrency
- EXCLUSIVE: Decoding the importance of suspense around cameos in cinematic universe films
- Is Red One a Box-Office Success?
- NBC’s New Thriller Starring Manifest, La Brea Stars Sets Premiere Date: Details
- TNSR PREDICTION. TNSR cryptocurrency
- ‘They Are Getting Gritty, Man’: Chicago Med’s Steven Weber Talks Season 10 Changes With New Showrunner Taking Over
- Parineeti Chopra reveals WHY she picked Amar Singh Chamkila with Diljit Dosanjh over Ranbir Kapoor’s Animal: ‘Higher power…’
2024-11-18 20:31