Elon Musk, the CEO of Tesla and SpaceX, has been a staunch supporter of cryptocurrencies, particularly the meme-based altcoin Dogecoin (DOGE). Musk has typically come out in help of DOGE on Twitter and lately, the billionaire entrepreneur reaffirmed that he’ll proceed supporting Dogecoin and hold shopping for it as effectively. He additionally mentioned DOGE funds could quickly be supported for purchasing Tesla and SpaceX merchandise. This announcement got here a pair days after Musk was sued for $258 billion by DOGE investor over an alleged DOGE pyramid scheme.
On June 19, Musk took to Twitter to say, “I’ll hold supporting Dogecoin.” To this, Twitter consumer @AltcoinGordon replied, “Preserve shopping for it then.” Musk merely replied, “I’m.”
As talked about, Musk has all the time been a supporter of DOGE, even briefly adopting the casual nickname of “Dogefather,” a time period that was coined by followers of Musk and DOGE. His help has typically drawn the ire of many customers on social media, who blamed Musk for selling the digital coin solely to drive up its costs, including to the general volatility of DOGE.
On June 16, US-based investor Keith Johnson accused Musk of selling DOGE, serving to drive its value up solely to let the worth tumble quickly after. Claiming to have misplaced cash after investing in Dogecoin, Johnson described himself as an “American citizen who was defrauded” by what he referred to as a “Dogecoin Crypto Pyramid Scheme.”
ALSO SEE: Elon Musk Sued By Dogecoin Investor For $258 Billion Over Alleged Pyramid Scheme
On June 19, DOGE creator Billy Markus, who goes by the pseudonym Shibetoshi Nakamoto on Twitter (a play on the title of Bitcoin’s nameless creator Satoshi Nakamoto), got here out in help of Musk, tweeting, “If Dogecoin is a pyramid scheme, so is the whole cryptocurrency market, inventory market, housing market, commodities market, and financial system itself.”
if dogecoin is a pyramid scheme, so is the whole cryptocurrency market, inventory market, housing market, commodities market, and financial system itself.
let’s sue alexander hamilton.
— Shibetoshi Nakamoto (@BillyM2k) June 19, 2022
Markus and Musk typically reply to one another’s tweets, popping out in help of each other on common foundation. On June 18, Markus tweeted that he needs folks would use DOGE “for one thing past pump and dump” in order that it “has a purpose to exist.” To this, Musk replied that DOGE could quickly be used for Tesla and SpaceX merch. “Perhaps extra down the street,” the Tesla CEO wrote.
Tesla and SpaceX merch, perhaps extra down the street
— Elon Musk (@elonmusk) June 18, 2022
Dogecoin value at present
On the time of writing, DOGE value stood at $0.05917, as per CoinMarketCap knowledge. As per Indian change WazirX, Dogecoin value stood at Rs 4.89. Dogecoin value has gained 13.16 p.c within the final 24 hours.