Elon Musk is collecting titles. More than just an eccentric businessman, he surpassed Jeff Bezos as the richest man in the world and was jokingly nicknamed the “Dogefather” for his support of him at Dogecoin.
Earlier this year, the business mogul announced that his company Tesla would accept Dogecoin. The initiative began with the Santa Monica Supercharger accepting the cryptocurrency as a payment, the first of the Tesla company to do so. Musk tweeted on that occasion: "Of course, you can pay in Dogecoin." This has led to a major surge in the value of the currency, leading it to one quotation of 0,1944 dollars.
Because SpaceX has joined Dogecoin's support
In recent tweets and in an interview with Bloomberg Live, Musk reiterated his support for the coin. And now SpaceX has become the most recent of its companies to accept Dogecoin. "Tesla accepts Dogecoin for some cargo and SpaceX will do the same," Musk said. When asked the reason for this choice in the Bloomberg interview, Musk replied: "I know many people who are not that rich and who have encouraged me to buy and support Dogecoin."
More specifically, he referred to the fact that some of this encouragement comes from employees of his companies. “I'm responding to these people and people who, when I went around the SpaceX or Tesla factory, asked me to support Dogecoin, so I'm doing it,” he said.
Like when Tesla started accepting Dogecoin, this announcement triggered a price hike. Dogecoin jumped 21% to $ 13 on June 0,06784 following the news. However, it may be stabilizing, as it fell 5% today, with a price tag of $ 0,06289, according to CoinMarketCap.
It can be considered a bold move to embrace cryptocurrency at a time when the market is seeing such extreme lows. Dogecoin itself has dropped 90% from its all-time highs and is not alone in this negative market. But if forward-thinking business savvy Elon Musk is adamant, it could be a sign that the world of digital currencies isn't over yet. Or maybe he is just loyal: after all, one should "never go against family".