Elon Musk Reveals Real Reason He Supports Dogecoin, Says Many People at Tesla and Spacex Own DOGE – Altcoins Bitcoin News

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by Kevin Helms
Elon Musk has revealed the real rea­son he sup­ports the meme cryp­tocur­ren­cy doge­coin. He shared that a lot of peo­ple he talks to at his com­pa­nies, Tes­la and Spacex, own doge­coin, not­ing that “it felt like the people’s cryp­to.”
Tes­la and Spacex CEO Elon Musk revealed Sun­day the real rea­son he began sup­port­ing doge­coin. He not­ed that many peo­ple he talks to at both com­pa­nies own the meme cryp­tocur­ren­cy.
Respond­ing to a tweet by doge­coin hold­er Glauber Con­tes­so­to, who said the appeal for DOGE is real, ref­er­enc­ing a sur­vey that found about a third of U.S. cryp­to hold­ers own the meme cryp­tocur­ren­cy, Musk wrote:
Lots of peo­ple I talked to on the pro­duc­tion lines at Tes­la or build­ing rock­ets at Spacex own Doge. They aren’t finan­cial experts or Sil­i­con Val­ley tech­nol­o­gists. That’s why I decid­ed to sup­port Doge — it felt like the people’s cryp­to.
The Doge com­mu­ni­ty wel­comes Musk’s com­ment and sup­port. “Most of us don’t come from priv­i­leged back­grounds and hon­est­ly can’t relate to the experts in Sil­i­con Val­ley,” Con­tes­so­to respond­ed. “We just want to believe in a cryp­to that rep­re­sents us all. Doge­coin is the lit­tle guy per­son­i­fied in cryp­to which is why we love it. We appre­ci­ate your sup­port, Elon.”
A sur­vey by price com­par­i­son por­tal Find­er shows that more peo­ple in the U.S. own doge­coin than in any oth­er coun­try. The sur­vey states:
Doge­coin sees its high­est adop­tion in the Unit­ed States with 30.6% of cryp­to own­ers say­ing they own doge­coin. This is 1.6 times the glob­al aver­age adop­tion rate of 19.2%.
At the time of writ­ing, the price of doge­coin is up 11.31% over the past week, with DOGE sit­ting at $0.2664 based on data from Bitcoin.com Mar­kets.
Musk pre­vi­ous­ly said he per­son­al­ly owns three cryp­tocur­ren­cies: bit­coin, ether, and doge­coin. On Sun­day, he tweet­ed sev­er­al impor­tant doge­coin improve­ments and con­firmed that he does not own any shi­ba inu tokens. In August, the Tes­la boss agreed with the Shark Tank star Mark Cuban that doge­coin is the “strongest” cryp­to for pay­ments.
What do you think about Elon Musk’s com­ments about doge­coin? Let us know in the com­ments sec­tion below.
A stu­dent of Aus­tri­an Eco­nom­ics, Kevin found Bit­coin in 2011 and has been an evan­ge­list ever since. His inter­ests lie in Bit­coin secu­ri­ty, open-source sys­tems, net­work effects and the inter­sec­tion between eco­nom­ics and cryp­tog­ra­phy.

Image Cred­its: Shut­ter­stock, Pix­abay, Wiki Com­mons
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