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Elon Musk says he'll support major Dogecoin holders if they sell their coins

Elon Musk, the world's richest person, has frequently praised meme-inspired digital currency Dogecoin in his tweets.

February 15, 2021 / 03:49 PM IST
Elon Musk. (File Image)

Elon Musk. (File Image)


Tesla Chief Executive Officer (CEO) Elon Musk on February 14 said there is "too much concentration" among major Dogecoin holders, and said he will support them if they sell most of their coins.

"If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo," Musk said.

In a subsequent tweet on February 15, Musk clarified that he will pay money if the major Dogecoin holders "void their accounts".

"I will literally pay actual $ if they just void their accounts" Musk said.

Musk, the world's richest person, has frequently praised the meme-inspired digital currency in his tweets, even saying that he bought "some" for his son. He has even called it the "people's crypto".

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Musk's tweets have caused a recent surge in the price of Dogecoin, the world's 12th largest cryptocurrency.

He has frequently tweeted about Bitcoin, even recently adding "#Bitcoin" to his Twitter bio, which has now been deleted.

Tesla on February 8 said it has purchased $1.5 billion worth of Bitcoin, and might start accepting it as a form of payment for its products in the "near future".
Moneycontrol News
first published: Feb 15, 2021 08:55 am

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