At the same time, the billionaire again expressed his support for Dogecoin (DOGE) calling it “the people’s cryptocurrency.” He did so by responding to a tweet with a screenshot of the headline of an article that stated: “Almost a third of all cryptocurrency holders own Dogecoin: survey.”
“Many people I spoke to in the Tesla production lines or who build rockets at SpaceX own Doge,” Musk replied to the publication. “They are not financial experts or Silicon Valley technologists. That is why I decided to support the Doge, it felt like the cryptocurrency of the people,” he added.
It is not the first time that the mogul has praised the cryptocurrency, whose development he sees as “potentially promising”, favoring its popularity and increasing its value. Following his multiple statements in support of the currency, it was rumored that the US Securities and Exchange Commission had launched an investigation to explain the millionaire’s desire to favor it.
This definition as the “people’s cryptocurrency” would fit into the general vision of Dogecoin as accessible to ordinary people, as it is more affordable compared to other virtual currencies on the market.
Currently, Dogecoin ranks eighth in the cryptocurrency ‘ranking’.
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