Tweeting about Dogecoin will backfire Elon Musk?
Tesla’s owner Elon Musk made an announcement endorsing cryptocurrency, not only advertising its beneficiaries but it plans to adopt the digital asset as a form of payment for its products.
A $1.5billion bet by Elon Musk was defeated by him after the CEO of major cryptocurrency exchange Binance called out the billionaire’s support for meme-based token Dogecoin.
“Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company,” Musk tweeted in response to a with Binance CEO Changpeng Zhao, media report state.
During media interaction, Zhao said he was surprised that Musk is a Dogecoin advocate, given that it was created as a joke. Musk has fired off several tweets about the Shiba Inu-themed token, sparking a surge in its price. Last week, he said he bought some for his 9-month-old.
“I strongly believe that he’s not really associated with Dogecoin in any way,” Zhao said of Musk, noting that Tesla’s bet was on bitcoin, and not on the “joke” asset. But Binance has added dogecoin future recently based on consumer demand. That’s because it’s gaining popularity for reasons nobody expected, Zhao said.
