The world’s richest person is a vocal supporter of various cryptocurrencies, including meme cryptocurrency Dogecoin DOGE/USD. Here are the latest comments from Tesla Inc TSLA Director Elon Musk on cryptocurrencies.
What happened: As one of the most followed accounts on Twitter Inc TWTRMusk said he is the subject of many crypto scams.
“Scammers are going to target my account,” Musk said in the Full Send Podcast.
Musk has also been targeted by “sh**coins” named after him in an effort to get members of the public to associate the coin with Tesla’s CEO.
A coin called Dogelon Mars ELON/USD is labeled as Elon Coin, but is not related to Musk.
“I had nothing to do with it.”
When it comes to cryptocurrencies, there is still one “good boy” for Musk.
“I mainly support Doge. Doge has the memes and dogs and has a sense of humor and doesn’t take himself too seriously,” he said.
Musk Believes Dogecoin Has More Possibilities Than Bitcoin BTC/USD for transactional use.
“The fact that 5 billion DOGE are created every year is actually, I think, good for using it as a transaction currency.”
Related link: Tesla won’t let you buy a car with Dogecoin, but this other company from Elon Musk is accepting the Meme crypto for rides
Why it’s important: In addition to tweeting about Dogecoin, Musk has also shown support for the popular meme coin through the companies he runs.
“You can buy Tesla merchandise and SpaceX merchandising with Doge,” Musk said.
Musk also referred to The boring company Allow Dogecoin for some trades.
Musk’s comments about supporting Dogecoin come after Tesla recently announced that it converted 75% of its Bitcoin holdings to fiat in the second quarter, but the company still holds all of its Dogecoin.
Photo: Made with an image of Ministério Das Comunicações on Flickr