Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Tesla CEO Elon Musk has confirmed that he has not sold any dogecoin and will not sell any as the price of the cryptocurrency continues to slide over the recent weeks. The “Dogefather” has been working with dogecoin devs “to improve system transaction efficiency” after Tesla suspended accepting bitcoin for payments, citing environmental concerns.
Elon Musk Will Not Sell His Dogecoins
Elon Musk confirmed this week that he has not sold any dogecoin and will not sell any. On Thursday, the Tesla CEO posted an image on Twitter with the question: “How much is that Doge in the window?”
Twitter user “Dave Lee” responded, “If you missed it this is the sticker on Elon Musk’s gaming laptop. Yes, that’s a dog on a dollar bill.” Musk replied with a clarification: “A longtime Tesla supporter gave me the Doge dollar sticker at Giga Berlin.”
Lee further tweeted: “To clarify, I don’t think Elon would ever sell any his Doge holdings. He’s the ultimate hodler.” The Technoking of Tesla confirmed:
Yeah, I haven’t and won’t sell any Doge.
It is not known how much dogecoin Musk actually owns other than his tweet on Feb. 10 that he “Bought some dogecoin for lil X, so he can be a toddler hodler.” People have speculated anything from him not owning any DOGE to him being a dogecoin whale. Bitcoin News reported on Friday that Musk could be the owner of a mystery dogecoin whale address currently holding 36.7 billion dogecoins. The price of DOGE is currently $0.3560.
The price chart for dogecoin. Source: Markets.Bitcoin.com
Musk previously voiced some concerns about the meme cryptocurrency. “Too much concentration is the only real issue,” he said in February, adding, “I will literally pay actual $ if they [dogecoin whales] just void their accounts.”
Nonetheless, he has been all about dogecoin lately, calling himself the Dogefather on several occasions, including during his performance on Saturday Night Live (SNL) on May 8. Musk’s company Spacex also announced that the Doge-1 satellite will be launched to the moon next year. On May 11, Musk set up a poll on Twitter asking his followers if Tesla should accept dogecoin; 78.2% of voters said yes.
After announcing that Tesla has suspended accepting bitcoin for payments, Musk revealed he was “Working with Doge devs to improve system transaction efficiency.” On May 15, he tweeted: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.” His comments have drawn much scrutiny from the crypto community.
As for whether Tesla will sell its BTC stash, Mush tweeted that “Tesla has [diamond hands emojis]” and “Credit to our Master of Coin.” Both Musk and Tesla have confirmed that Tesla has not sold its bitcoins while Musk said that he himself has not sold his BTC.
Meanwhile, the environmental debate between Musk and the bitcoin community has escalated with a growing number of people trying to show Musk that he has been misinformed. For example, Ark Invest said that bitcoin mining could be a net positive for the environment while Shark Tank star Mark Cuban explained that accepting bitcoin actually benefits the environment.
Do you think Elon Musk will ever sell his dogecoin? Let us know in the comments section below.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.