The world’s richest man, Elon Musk has given the reason for showing support for Dogecoin among all other crypto assets.
The Tesla and SpaceX CEO is known to use his platform to support the Shiba Inu dog-themed crypto, DOGE. In fact, one of his merchandise accepts Dogecoin as a form of payment.
Dogecoin is created as a parody of the biggest cryptocurrency, Bitcoin by Markus Billy. The coin created as a memecoin has since grown to become one of the biggest and popular coin in the crypto space.
Many has invested and traded Dogecoin as a result of the billionaire’s cryptic tweets. In fact, an investor reportedly sued the billionaire for making him to invest and lose.
Elon Musk said in a recent interview, “I have never said that people should invest in crypto. In the case of Tesla, SpaceX, and myself… we all did buy some Bitcoin, but it’s a small percentage of our cash and cash assets…
On supporting Dogecoin, the billionaire said, ” I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin.
”I’m responding to those people… Just people when I walk around the factory at SpaceX or Tesla, they’ve asked me to support Dogecoin; so I’m doing so.“ he added.