Elon Musk Unveils Reasons of His Support towards Dogecoin

Elon Musk Unveils Reasons of His Support towards Dogecoin

Crypto News Dogecoin News
October 25, 2021 by Elias Powell
74
With Bitcoin price surging, the most influential man in crypto once again can be spotted in the media, social media platforms, and within the crypto community. The man is no other than the CEO of Tesla Inc., Elon Musk who can be seen everywhere these days. But recently he was seen sharing the reasons which
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With Bitcoin price surging, the most influential man in crypto once again can be spotted in the media, social media platforms, and within the crypto community. The man is no other than the CEO of Tesla Inc., Elon Musk who can be seen everywhere these days. But recently he was seen sharing the reasons which form the basis of his support for the famous crypto coin, “Doge”.

Tesla’s CEO is back with a bang and the reason for his return is the price increase of Bitcoin. Otherwise, he was hardly making any mistakes when Bitcoin continued to decline in terms of its value. But at all times he kept his faith in Bitcoin alive even when Bitcoin fell to extreme levels. He encouraged people not to worry about and keep their coins to them until the right time comes. His advice is proving correct these days as Bitcoin is once again on the horizon. Price is moving upward and it is surging very fast.

However, Musk was the person who was behind the success of Dogecoin. From the moment Dogecoin was issued in the market, it was subjected to heavy criticism. Though it was based on a famous meme dog, Shiba Inu, but people mocked the very basis of Dogecoin. The coin needed support to survive and that support was rendered to it by none other than Elon Musk himself.

Musk got himself engaged in healthy and unhealthy discussions involving Dogecoin and fearlessly debated in favor of Dogecoin. It was because of his continuous efforts that people started to turn their gaze upon Dogecoin. Some people even questioned Musk why do he support Dogecoin and his reply was always the same i.e. Dogecoin has unseen potential.

Musk’s unbreakable trust on Dogecoin then started to prove that Musk was right. Amongst the globally popular cryptocurrencies, which include Bitcoin as well, Dogecoin too is a part of. In fact about two months ago, Dogecoin was the digital asset industry’s most acquired cryptocurrency. The credit of Dogecoin’s success therefore goes to Elon Musk only.

In a tweet post addressed to Musk, a person asked him to explain his reason for supporting Dogecoin. He said that today he will let the people know why he always supported Dogecoin. He said that one of the major reason is that most of the personnel working with Tesla are actually Dogecoiners. In the world of crypto, Musk believes that Dogecoin is the one currency which represents every class of people. Rich or poor, anyone can acquire Dogecoin without the need to put in too many funds. This then makes Dogecoin a “people’s crypto”, claimed Musk.

After receiving the response, the tweet handler thanked Musk and appreciated the reason he had given.

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