After the announcement of the CEO of the company Elon Musk, the price of altcoin increased by more than 25%
CEO of Tesla and SpaceX Elon Musk wrote on Twitter, that the automaker will release products with their symbols, which will be sold for Dogecoin. After that, the Doge rose in price by more than 25%, its price exceeded $ 0.20.
Tesla will make some merch buyable with Doge & see how it goes
— Elon Musk (@elonmusk) December 14, 2021
On December 13, in an interview with TIME magazine, the businessman stated that Dogecoin is a more suitable cryptocurrency for payments than Bitcoin.
Watch: TIME's 2021 Person of the Year @elonmusk discusses cryptocurrency #TIMEPOY https://t.co/FfwEGxW7LX pic.twitter.com/5BXAZky0LS
— TIME (@TIME) December 13, 2021
According to the businessman, transactions on the Doge network are faster and cheaper than transactions with the first cryptocurrency. TIME magazine named Elon Musk “Person of the Year”.
According to Musk, bitcoin has become an investment asset, so crypto investors prefer to accumulate the coin, rather than sell it or use it to make transactions.
In October, Musk explained why he is supporting Dogecoin. The businessman said that he considers Doge “the people’s cryptocurrency“.
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.
— Elon Musk (@elonmusk) October 24, 2021
Musk added that before supporting the “meme” cryptocurrency, he spoke with Tesla and SpaceX workers, many of whom turned out to be Dogecoin holders.
Also in October, Musk revealed that he owns Dogecoin, Ethereum and Bitcoin. The entrepreneur explained that he acquired the cryptocurrency out of curiosity, adding that he is not the owner of Shiba Inu tokens.
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— Elon Musk (@elonmusk) October 24, 2021
In May, the businessman already explained why he likes Dogecoin. According to Musk, altcoin “has memes and dogs, but other projects do not.”
Doge has dogs & memes, whereas the others do not
— Elon Musk (@elonmusk) May 25, 2021
