Tesla Inc CEO, Elon Musk became the richest person to replace Jeff Bezos. Did you know that Elon Musk is his favorite crypto asset DOGE?
Elon Musk became the richest person in the world to replace Jeff Bezos, Founder of Amazon.com. He is noted to have a wealth of USD188, 5 billion. Elon Musk’s wealth increased due to the increase in Tesla’s share price.
However, in truth, Elon Musk does not only own the Tesla automotive company. He also owns Space X, the space company. Then owns Neuralink, a startup company that develops a brain-machine interface that combines the human brain with the computer.
Previously, he also co-founded Paypal, the internet’s most popular financial company. Below we will discuss Elon Musk’s association with the crypto asset DOGE.
What is Dogecoin?
Dogecoin (DOGE) is a crypto asset that is a derivative or fork of Litecoin. Meanwhile, Litecoin is a derivative or fork of Bitcoin in mining. Dogecoin has a limited limit, which is only 127,928,673,749 DOGE that can be mined.
DOGE is a crypto asset created by Jackson Palmer in 2014. This crypto is indeed taken from the DOGE dog meme. The naming is taken from a joke so that it is easy to recognize.
DOGE is a crypto asset that is used as payment on several platforms such as Reddit. This crypto is very popular in the United States and other countries.
Elon Musk Likes DOGE
Many conglomerate entrepreneurs are turning to investing in crypto assets, especially Bitcoin. Like Paul Tudor Jones, owner of the company Tudor Investment Corp who has bought Bitcoin.
Paul Tudor thinks Bitcoin is a safe haven asset and a good inflation hedge. This step was followed by many financial companies such as Square and others.
At the end of last year, Elon Musk stated that Bitcoin was bullshit. In contrast to the opinion of Paul Tudor Jones and the companies above.
This is written in the post. “Bitcoin to be almost as bs as fiat money.”
Bitcoin is almost as bs as fiat money
— Elon Musk (@elonmusk) December 20, 2020
Then he tweeted “One word: DOGE” again.
One word: Doge
— Elon Musk (@elonmusk) December 20, 2020
And he also tweeted as if hinting that DOGE would remove the conventional payment system.
Doge Popular Because Elon Musk
With Elon Musk’s post, DOGE’s popularity is increasing. After a few days of Elon Musk tweeting, DOGE was back flying. At that time DOGE climbed back to Rp. 194.
Within 3 days, the DOGE increase has passed 150%. The increase is even more fantastic when calculated from the beginning of 2020. During one year, the DOGE increase increased by 592%. Early 2020, the price of DOGE is still IDR 28.
Previously, DOGE was popular because of TikTok’s post in mid-2020. The price of DOGE at that time soared 100%. In the Indodax market, DOGE at that time increased from Rp. 40 to Rp. 80 in one night.
Is DOGE Price Increasing Up?
The increasing popularity of Elon Musk and DOGE is expected to increase the price of DOGE again. After breaking through the highest price in history, namely Rp. 194, DOGE is expected to increase again.
Then, can DOGE improve again? Will DOGE’s innovation be able to attract the attention of the crypto, blockchain world and be able to cover the financial shortcomings that have been occurring?
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