Elon Musk is a passionate advocate of Dogecoin. Using his platform and reputation, Musk has greatly contributed to DOGE’s rise to $0.70 in early 2021 before starting to drop.
Still, Elon Musk did not hesitate to support Dogecoin and was extremely open about it. The “Dogefather” recently explained why he invested in the meme coin and started promoting it.
In a recent interview with Bloomberg, SpaceX CEO Elon Musk discussed why he was included in the meme coin in the first place. Musk suddenly started promoting Dogecoin in early 2021 and stated that he became interested in Dogecoin during the interview. Due to the staff at SpaceX and Tesla, both serve as CEO.
Elon Musk said those who informed him were the factory workers on the floor and asked for cooperation.
” Many people who are not rich encouraged me to buy and support Dogecoin,” Musk said.
The billionaire said he would continue to hold and promote Dogecoin in the future. That’s despite a major lawsuit against Musk for allegedly being complicit in a conspiracy to inflate the price of beast money and throw it away.
Elon Musk’s enthusiasm for meme money has gone beyond just tweeting about it. Tesla, the world’s leading electric vehicle manufacturer, now accepts Dogecoin as payment for items, and Musk previously accepted Doge payments from SpaceX at any time.
This new interest shows that the future of meme coins is not doomed. As long as these numbers continue, altcoin recovery may be possible. However, the price did not respond well to it.
