Elon Musk announced that he will keep buying DOGE

Crypto News
Bridget Logan


The founder and CEO of Tesla and SpaceX, Elon Musk, said that he does not intend to give up support for the cryptocurrency Dogecoin even amid the collapse of the cryptocurrency market. He stated this in comments under DOGE creator Billy Marcus' Twitter post.

Marcus wished in his post that DOGE holders would stop using the coin only for resale. According to him, the potential of this digital asset is much broader. Immediately in the comments under the post, the developer was supported by Elon Musk. The billionaire said that among other things, the coin could be used to purchase Tesla and Spacex products. Immediately after the mentioning of DOGE, the rate of the coin jumped in price, but after a while it began to fall again.

Tesla launched testing of Dogecoin payment acceptance back in January. However, only a limited list of the automaker's products was available to coin holders. In late spring, Musk notified the public about expanding the testing to his other company, SpaceX. Paying with DOGE coins, those who wish will be able to buy souvenirs of the corporation, said Musk.

Previously, the billionaire has repeatedly emphasized his commitment to Dogecoin. In his opinion, this cryptocurrency has the status of the people, which in the future will still demonstrate its capabilities in the field of payments.