![]() ![]() Last year, he tweeted “SpaceX is going to put a literal Dogecoin on the literal moon,” alluding that SpaceX would accept Dogecoin as a payment method. With Bitcoin, there is a larger transaction value but very low transaction volume, compared to Dogecoin which has very large transaction volumes per day. According to him, Dogecoin is better than Bitcoin, as it’s more suited for financial transactions. In March 2022, Musk claimed that DOGE was one of the only three digital assets he owns – in addition to BTC and ETH. ![]() He still makes tweets that boost the value of the cryptocurrency every now and then. He has called DOGE the “ people’s crypto”, and once referring to himself as “ The Dogefather”. DOGE benefited from the news the most and returned to the top 10 coins by market capitalization immediately after.ĭogecoin, the cryptocurrency that features an image of a Shiba Inu dog from the viral “Doge” meme as its logo and namesake, was started as a joke in 2013 to poke fun at the hype around Bitcoin.Īlthough Musk is publicly seen as a DOGE supporter, his support for Dogecoin isn’t new – he started to tweet about Dogecoin back in 2019 and has spoken many times in favor of the dog-themed coin – often on Twitter. Twitter accepted the terms of the deal, but it was unclear how the financing scheme or go-private deal would be structured – some experts speculate the company will soon be privately held under Musk’s control.Ī day after the news that Musk will purchase Twitter broke, the value of all cryptocurrencies combined surged by 4%. Elon Musk successfully inked the deal to acquire one of the popular social media platforms by fighting off multiple legal challenges – and agreed to pay $44 billion for Twitter, which comes out to $54.20 a share.
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