Elon Musk has revealed the real reason behind his support for the meme cryptocurrency dogecoin. He shared that a lot of people he spoke to at his company, Tesla and Spacex, owned dogecoin, noting that it “felt like people’s cryptocurrency.”
Lots of people Elon Musk talks to at Spacex and Tesla Own Dogecoin
On Sunday, Elon Musk, CEO of Tesla and Spacex, revealed the real reason he started supporting dogecoin. He noted that many of the people he spoke with at both companies own the cryptocurrency meme.
In response to a tweet by dogecoin owner Glauber Contessoto, who said the call for DOGE is real, referring to a survey that found about a third of crypto holders in the US own the cryptocurrency meme, Musk wrote:
A lot of the people I’ve talked to on the production lines at Tesla or building rockets at Spacex own a Doge. They are not the financial experts or the technical experts of Silicon Valley. That’s why I decided to support Doge – it felt like crypto people.
The Doge community welcomes Musk’s comment and support. “Most of us don’t come from privileged backgrounds, and frankly can’t connect with the experts in Silicon Valley,” Contesoto replied. “We just want to believe in the cryptocurrency that represents us all. Dogecoin is the little guy in cryptocurrency and that’s why we love it. We appreciate your support, Elon.”
A survey by price comparison portal Finder shows that more people in the US own dogecoin than any other country. Survey mentions:
Dogecoin is seeing its highest adoption in the US, with 30.6% of cryptocurrency owners saying they own a dogecoin. This is 1.6 times the average global adoption rate of 19.2%.
At the time of writing, the price of dogecoin is up 11.31% over the past week, with the price of DOGE at $0.2664 based on data from Bitcoin.com Markets.
Musk previously said that he personally owns three cryptocurrencies: Bitcoin, Ether, and Dogecoin. On Sunday, he tweeted several important improvements to dogecoin 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” cryptocurrency for payments.
What do you think of Elon Musk’s comments about Dogecoin? Let us know in the comments section below.
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