2024-01-22 17:19:20
Tesla and SpaceX CEO Elon Musk has revealed that he still owns a stash of dogecoin and reaffirmed his commitment to continue supporting memecoin. Musk also mentioned that SpaceX is still “a lot” has bitcoins.
They strongly support cryptocurrencies
In an interview with X Space fortnightly, the billionaire said:
“I still have a bunch of dogecoins and SpaceX has a lot of bitcoins” – written by.
Elon Musk, known as the Dogefather in the dogecoin community, has long been a supporter of memecoin. He previously revealed that he personally owns DOGE in addition to BTC and ETH. In June 2022, he stated that he would continue to buy and support dogecoin.
Tesla and SpaceX currently accept dogecoin for certain products. The Boring Company, founded by Musk, also enables DOGE payments for customers traveling through the Las Vegas Transit System tunnel. The Vegas Loop, a tunnel system under Las Vegas that allows passengers to be transported in Teslas to various parts of the city.
The billionaire even offered to eat a Happy Meal menu on TV if McDonald’s accepted dogecoin payments. While most DOGE supporters welcomed Musk’s comments, some investors sued the billionaire, alleging that he and his companies “Ponzi scheme” they continue using dogecoin. Musk asked the judge to drop the charges, arguing that the tweets in support of DOGE were not illegal.
The billionaire also previously said that SpaceX owns bitcoin; and according to his electric vehicle company, Tesla’s quarterly report, he has a net worth of $184 million in digital assets. Tesla invested $1.5 billion in BTC in the first quarter of 2021, but sold 75% of it in the second quarter of 2022. Musk explained at the time that the company is of course open to increasing its BTC holdings in the future. He added that the earlier sale was due to concerns regarding the company’s overall liquidity, given its shutdown due to COVID.
However, the owner of Tesla said last December that he does not think too much regarding cryptocurrencies. He emphasized that none of his companies will ever create a cryptocurrency. In October, it revealed that it plans to transform X into a powerful financial platform, citing 2024 as the year it will happen. Many hope it will include cryptocurrencies. He also mentioned that users will not need a bank account to make financial transactions through the site. You can read more regarding X’s payment function in this article.
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