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Elon Musk Explains How He Started Supporting Dogecoin (DOGE)

Elon Musk, the CEO of Tesla, who is currently the richest person in the world, has recently explained how he started supporting his favorite crypto and largest dog-themed token in the market, Dogecoin (DOGE).

During an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum in Doha, Musk stated that he grew an interest in supporting Dogecoin (DOGE) after he was encouraged by some people.

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The billionaire tech expert emphasized the fact that he has never convinced anyone to purchase cryptocurrency, as against the lawsuit filed against him.

Elon Musk noted:

I have never said that people should invest in crypto. In the case of Tesla, SpaceX, and myself… we all did buy some Bitcoin, but it’s a small percentage of our cash and cash assets…

I also bought some Dogecoin, and Tesla accepts Dogecoin for some merchandise, and SpaceX will do the same.

And I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin; so, I’m responding to those people… Just people when I walk around the factory at SpaceX or Tesla, they’ve asked me to support Dogecoin; so I’m doing so.

Read Also: Dogecoin Creator Reveals Who Wrote Most of DOGE Code, As Elon Musk Slams Jackson Palmer for Zero Contribution

Elon Musk Keeps Supporting Crypto despite Class-Action Lawsuit

Despite a $258 billion class-action lawsuit alleging a crypto pyramid scheme, Elon Musk has continued to showcase his interest in the dog-themed token, Dogecoin (DOGE).


On Thursday, a New York district court received a class action complaint against Elon Musk and his companies, SpaceX and Tesla, for an alleged Ponzi scheme using DOGE. The lawsuit demanded $258 billion in total monetary damages from Musk while requesting the court to rule DOGE trading as gambling in the United States.

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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

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