when

Elon Musk

<p>During a discussion on X <a href="https://x.com/cb_doge/status/1858457623416160636">Spaces</a>, Tesla CEO Elon Musk revealed that he still owns a bunch of dogecoin and his company SpaceX still owns a bunch of bitcoins.&nbsp; This comes at a time when the community is awaiting a rally for these assets and Bitcoin to soon transcend the significant $100,000 mark.</p>   
<p>The Tesla CEO has long been a Dogecoin advocate and is also known to cause fluctuations in the price of the meme coin through his endorsements. He had previously revealed that he personally owns DOGE alongside BTC and ETH. This recent comment has incited excitement within the community.</p>   
<p>Additionally, Musk’s involvement as the leader for the “Department of Government Efficiency” has also reignited interest in Dogecoin. Since the recent announcement, the meme coin has seen an approximately 25% surge in its weekly gains. It is currently trading at $0.37, up over 2% in the last 24 hours.</p>   
<p>The market has also reacted positively to news of SpaceX retaining its Bitcoin holdings, particularly after previous reports suggested that there had been a potential reduction in their crypto exposure.</p>   
<h2 class="wp-block-heading" id="h-musk-defends-doge">Musk Defends DOGE</h2>   
<p>Recently Musk had supported Dogecoin <a href="https://x.com/elonmusk/status/1856735349952688323">saying </a>"I think the flat inflation of Dogecoin, which means decreasing percentage inflation, is a feature, not a bug," which was in response to Dogecoin co-creator Billy Markus who had suggested users propose removing Dogecoin's inflation if they don't like it.</p>   
<p>Markus had noted that adding inflation "is ideal for something intended as a currency, steady predictable inflation with a percentage that goes down" which is "much, much lower than the dollar."</p>   
<h2 class="wp-block-heading" id="h-will-musk-s-comments-spark-a-surge-in-bitcoin">Will Musk’s Comments Spark A Surge In Bitcoin&nbsp;</h2>   
<p>With the market currently bullish, the comments from Musk regarding Space X holding a considerable amount of BTC, could cause hype in the market. Since Space X is an institution, this comment could also influence other institutional investors to invest in BTC, which could cause an uproar in the community and a surge in it price. Currently, Bitcoin is trading at $92,049, up over 1% in the last 24 hours.</p>

Elon Musk Reveals He Still Holds Dogecoin, Spacex Owns ‘A Bunch of Bitcoin’

Table of Contents

CoinPedia News

Other articles published on Nov 18, 2024

Fetch.ai Price Nears Key Buy Zone, Potential Upside To $2.00?

US Economic Indicators This Week: What They Mean for Bitcoin and Crypto Prices

Supercharge Your Portfolio in Weeks: These 5 Altcoins Have 4500% Upside Potential!

Don’t Let Bitcoin FOMO Stop You—This Best Crypto Gem Is Ready to Explode

6 High-Potential Tokens to Buy Before This Bull Market Peaks!

Shiba Inu Faces Competition as This Solana-Based Meme Coin Gears Up for 30,000% Growth!

Join our free newsletter for daily crypto updates!