Crypto NewsDogecoin (DOGE)

Elon Musk reveals why he supports Dogecoin (DOGE) and says he never advised investing in crypto

Elon Musk says he Dogecoin (DOGE) continued to be supported despite the meme token’s 90 percent crash from all-time highs caused by the crypto winter.
In a new interview with Bloomberg News Editor-in-Chief John Micklethwait, the CEO of Tesla and SpaceX explains why he is promoting DOGE.

“I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy and have encouraged me to buy and support Dogecoin, so I am replying to those people, just people who are at SpaceX or Tesla in the factory walk around . They asked me to endorse Dogecoin, so I’m doing it.”

Musk is currently facing a $258 billion lawsuit alleging the billionaire engaged in a Ponzi scheme by inflating the price of Dogecoin. Despite the accusation, Musk told his 99.3 million Twitter followers that he would continue to support and buy the dog-themed crypto asset.

He adds that he never advised investing in crypto.

“I never said people should invest in crypto. SpaceX, Tesla and myself all have something Bitcoin bought it, but it’s a small percentage of our total cash and cash-like assets, so not all that significant.”

Musk also reiterates his support for Dogecoin, saying SpaceX will soon accept the crypto asset.

“I also bought some Dogecoins and Tesla accepts Dogecoins for some goods and SpaceX will do the same…

I said I support Dogecoin and I do.”


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