Elon Musk Expresses Support for Dogecoin after Recent Bitcoin Criticism

Elon Musk Expresses Support for Dogecoin after Recent Bitcoin Criticism

Elon Musk, CEO of SpaceX and Tesla, is again cheering for big altcoin Dogecoin (DOGE) just after a month from offering cynical remarks on Bitcoin (BTC).

Musk, who is also known for being a big DOGE fan, has tweeted on 3 March to voice support for the cryptocurrency.

The former tweet was not really related to crypto but just a shoob meme with the caption “Dogs rock.” However, the following tweet — “they’ve got the best coin” — clearly indicates that Musk was thinking about the Dogecoin.

Musk known for supporting Dogecoin

It seems that this is not the first time that Musk has shared his positive attitude towards DOGE.

In April 2019, Musk said on his tweeter account that DOGE may be his favorite cryptocurrency. He added that it is a “pretty cool.”

The CEO of Tesla is also famous for his collaboration with Jackson Palmer, Dogecoin founder, in battling crypto scammers on Twitter.

It is worth mentioning that Musk has even been voted on Twitter to become Dogecoin CEO, leaving behind other contenders including Vitalik Buterin, co-founder of Ethereum, and Charlie Lee, developer of Litecoin.

Dogecoin is a peer-to-peer cryptocurrency based on blockchain that was born out of the “doge” meme. It was launched in 2013, and became a commonly traded cryptocurrency. DOGE’s success reportedly exceeded the expectations of its founder Billy Markus.

DOGE has marginally slipped down to be ranked as the 32 biggest cryptocurrency, with a market cap of $296.23 million.

At the press time, the cryptocurrency rose 3.06 percent to $0.00240.

Cryptolydian earlier reported Musk as making a suggestive tweet about Bitcoin that has set Twitter heads over heels. The innuendo-filled tweet gained thousands of likes and is still getting more by the minute.

He said:

“Bitcoin is *not* my safe word”

Musk often uses his Twitter to post both teasers and serious news about his projects or views. Perhaps this is why this tweet stirred his followers, but there is good reason to believe the tech-celebrity actually expresses admiration for the coin.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.