Tesla CEO Elon Musk revealed in the Space X's Space that he still holds a large amount of Dogecoin, while Space X holds a large amount of Bitcoin, and Dogecoin is his favorite cryptocurrency. Once again, he expressed his love for Dogecoin.
Renowned billionaire Elon Musk has a significant relationship with the cryptocurrency ecosystem, especially with the development of Dogecoin. It can be said that Musk's promotion of Dogecoin is one of the key factors in attracting a lot of attention to Dogecoin. He recently revealed in the Space X platform's Space that he still holds Dogecoin.
Musk Still Holds Dogecoin
Musk revealed in the Space X's Space that he still holds a large amount of Dogecoin and has not sold any, because Dogecoin is his favorite cryptocurrency. However, he did not mention whether he holds any other cryptocurrencies. But he added that his space exploration company SpaceX holds Bitcoin. He stated:
"I own a large amount of Dogecoin, and SpaceX holds a large amount of Bitcoin."
In addition to Space X, other companies under Musk's ownership also hold cryptocurrencies, such as Tesla's assets showing ownership of Bitcoin. Musk still expresses his belief in the potential of cryptocurrencies, even if he is not as outspoken as before.
During the X Space event hosted by Ark Invest founder Cathie Wood on the 11th, Musk mentioned his commitment to establishing a colony on Mars by 2050 and revealed that using Bitcoin on Mars is feasible but will face some obstacles.
Musk's Strong Love for Dogecoin
Musk's love for Dogecoin is not only evident in his continued holding and not selling of Dogecoin. Furthermore, before the historic breakthrough in the cryptocurrency market on the 11th, there was an incident where his X account at the U.S. Securities and Exchange Commission (SEC) was hacked. Many cryptocurrency communities expressed extreme dissatisfaction, believing that the SEC had set up numerous obstacles for the approval of Bitcoin spot ETF, yet did not prioritize the security of the official X platform account.
When Musk was asked by netizens about the SEC's X platform password, he sarcastically responded with "LFGDogeToTheMoon," indicating Dogecoin's rise to the moon. This once again demonstrates his love for Dogecoin.
Musk's Comments on the Declining Influence of Dogecoin?
Musk is often referred to as "Ma Investment Advisor," in part because in the past, whenever Musk posted about Dogecoin, the coin's price would rise. However, recently, Musk's tweets about Dogecoin seem to have less impact than in the past, and there have been fewer instances of double-digit increases when he tweets about Dogecoin.
Although Dogecoin saw a significant increase yesterday, it cannot be solely attributed to Musk's remarks. The approval of the Bitcoin spot ETF and the cryptocurrency market showing signs of recovery should also be considered. Observing the rise in Dogecoin, it seems that it no longer has the same influence as before.
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