Tesla and SpaceX CEO Elon Musk tweeted yesterday that he hasn’t and received’t be liquidating any of his Dogecoin (DOGE) holdings.
His newest tweet got here after YouTuber Dave Lee steered that Elon Musk would by no means promote his Doge holdings since he’s the “final hodler”. Musk replied saying, “Yeah, I haven’t & received’t promote any Doge.”
Elon Musk has been a vocal evangelist of cryptocurrencies, serving to push the costs of the digital currencies, together with bitcoin and Dogecoin larger prior to now 12 months. Earlier within the 12 months, Tesla disclosed a $1.5 billion bitcoin buy, sending the world’s largest cryptocurrency value up.
Musk, nonetheless, appears to have reversed course in favor of meme-inspired Dogecoin cryptocurrency. He just lately introduced that Tesla was discontinuing bitcoin funds owing to environmental considerations. Notably, the worth of bitcoin noticed an enormous drop following Musk’s announcement.
Luckily, the tech billionaire cushioned the bitcoin meltdown on Wednesday after asserting (in emoji kind) that Tesla has diamond palms. This was interpreted to imply that the electrical automotive maker won’t be promoting its BTC holdings anytime quickly.
DOGE To Quickly Hit $1?
Throughout his Could 10 Saturday Night time Dwell look, Musk known as Dogecoin a “hustle”. A lot to the displeasure of many Dogecoin followers, the worth of the cryptocurrency tumbled arduous after his SNL efficiency as a substitute of hovering as whales cashed out.
Earlier on Thursday, Musk had given Dogecoin one more shoutout. In his tweet, he requested “How a lot is that Doge within the window?”, attaching a picture that references Cyber Viking e book collection by Marcus Sloss.
These books speak about a fight veteran of the Saud Battle, Eric Yang, who’s devoted to saving earth from an alien invasion. Granted Musk topped himself the Dogefather after referring to the joke crypto as “folks’s cryptocurrency”, probably the most logical assumption is that Musk believes DOGE will save the world with out folks even realizing it.
The picture posted by Elon additionally features a laptop computer with a sticker on it. Curiously the sticker is a greenback invoice, albeit with a Shiba Inu canine as a substitute of President George Washington. As if on cue, DOGE surged from $0.37 to $0.40 within the span of minutes on the heels of Musk’s tweet.
Does this imply Elon sees DOGE hitting the much-coveted one-dollar mark within the close to time period? Nicely, if it does, it will likely be an enormous accomplishment for the crypto little doubt. Extra importantly, it’s going to cement the coin’s viability as a foreign money for on-line retailers.
At press time, Dogecoin is valued at $0.4042 with 20.18% beneficial properties on the day, in response to CoinMarketCap’s knowledge.