Elon Musk is still a Dogecoin HODLer in 2024
Last Updated on 4 March 2024 by CryptoTips.eu
The richest man in the world speaks less often about crypto than he used to, but when a friend asked this week if he still owned digital coins, Musk confirmed that he still has both Dogecoin and Bitcoin in his possession.
Elon Musk has not sold any #Dogecoin. 🐶
— 𝓣 𝓞 𝓟 𝓓 𝓞 𝓖 𝓔 🪬 (@TOPDOGE007) January 11, 2024
Just your friendly reminder that WAGMI! 💗
pic.twitter.com/bDfCQAxypL
To the moon
Musk has gotten into trouble several times because of his enthusiasm for Dogecoin. It is now believed that it was mainly due to Musk’s tweets about the largest memecoin that it rose to an absolute top value in 2021.
When Musk then made an iconic appearance on Saturday Night Live as financial expert Lloyd Ostertag in which he called himself ‘the Dogefather’ and shouted ‘to the moon’, the cryptosphere went wild and the top was set for Dogecoin.
However, because many people have lost money investing in that memecoin since then, Musk has been sued in the United States for quite a lot of money.
Furthermore, he also has a long history with Bitcoin. Tesla was one of the first well-known companies to register an investment in Bitcoin in its official accounts back in 2021. When the company sold some of those Bitcoins in early 2023, the price of the largest digital currency suddenly fell by 5%.
Ever since then, Musk rarely speaks about crypto. But now there is a bright spot again as he confirmed to still be a HODLer.
Chinese competition
At the same time, 2024 has not started very well for some of his companies. Twitter (now called X) has been in the news rather negatively ever since Musk said that advertisers should leave if they don’t agree with his freedom of speech idea and Tesla has lost some 12% of its stock value since the beginning of the year.
Tesla used to be the biggest electric car maker in the world but it seems that Chinese company BYD has now overtaken Musk’s crown jewel.
