During a discussion about X SpacesTesla CEO Elon Musk revealed that he still owns a lot of dogecoin and that his company SpaceX still owns a lot of bitcoins. This comes at a time when the community is waiting for a rally for these assets and Bitcoin will soon cross the $100,000 mark.
The Tesla CEO has long been a supporter of Dogecoin and has also been known to cause fluctuations in the meme coin’s price through his endorsements. He had previously revealed that he personally owns DOGE in addition to BTC and ETH. This recent comment has sparked excitement within the community.
Moreover, Musk’s involvement as leader of the Department of Government Efficiency has also reignited interest in Dogecoin. Since the recent announcement, the meme coin has seen an increase of around 25% in its weekly gains. It is currently trading at $0.37, up more than 2% in the last 24 hours.
The market has also reacted positively to the news that SpaceX is retaining its Bitcoin holdings, especially after previous reports suggested there had been a potential reduction in their cryptocurrency exposure.
Musk defends DOGE
Recently, Musk had backed Dogecoin proverb “I think Dogecoin’s flat inflation, which means decreasing percentage inflation, is a feature and not a bug,” which was in response to Dogecoin co-creator Billy Markus who had suggested that users suggest reducing inflation Remove Dogecoin if they don’t like it.
Markus had noted that adding inflation is “ideal for something that is intended to be a currency, steady, predictable inflation at a rate going down,” which is “much, much lower than the dollar.”
With the market currently bullish, Musk’s comments about Space Since Space Currently, Bitcoin is trading at $92,049, up over 1% in the past 24 hours.
