As all major cryptocurrencies see their value plummet, Tesla CEO Elon Musk said he will continue to support and buy Dogecoin as he has done for several years.
While some investors see this crash period as a golden opportunity to buy cryptocurrencies, Elon Musk also assured that he would take advantage of the fall to buy Dogecoin. In fact, Sunday Dogecoin (DOGE) soared more than 20% following a tweet from the billionaire Elon Musk stating that he would continue to support Dogecoin “.
In a later response to a subscriber who asked him to ” keep buying it “, Musk replied” That’s what I do ”, suggesting that he still continued to invest heavily in cryptocurrency, which has however seen its value decrease for several months now.
Also read: The creator of Dogecoin claims that 95% of cryptocurrencies are scams, Elon Musk responds
The cryptocurrency market continues to shake
Elon Musk’s recent tweet proves that the CEO of electric car maker Tesla, who was hit with a $258 billion lawsuit last week over his support of Dogecoin, stay true to cryptocurrency and don’t turn your back on it. Some market observers see this show of confidence in the cryptocurrency market as an ideal opportunity to buy cryptocurrencies while they are cheap.
Musk also recalled on Twitter that Dogecoin could be used to buy accessories in his companies, Tesla and SpaceX, hinting that other products could be offered ” in the future “. Currently, there is, for example, a “Giga Texas Belt Buckle” belt buckle with the car manufacturer’s logo, its “Cyberwhistle” whistle bearing the image of the Cybertruck or the “Cyberquad for Kids”, its electric quad for children.
In a few months, Elon Musk has even announced that it will be possible to pay for Superchargers in Dogecoin, which would be a first in the automotive industry. Cryptocurrency payments will also be accepted at restaurants and open-air cinemas in its future leisure centers.
I will keep supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022