Elon Musk reveals the real reason for supporting Dogecoin, turns out it’s more ‘human’ than you think

Tesla and SpaceX CEO Elon Musk revealed the real reason he started supporting the Dogecoin cryptocurrency on Sunday, October 24. It turned out that it was not a love for dogs, or a personal preference, but the root cause was related to the lives and interests of the employees at both companies he owned.

Responding to a tweet from famed investor Glauber Contessoto, who became a millionaire at the age of 33 after investing $180,000 in Dogecoin, Musk wrote:

“I’ve talked to a lot of people who work on the production line at Tesla or build rockets at Spacex and they all own Dogecoin. They’re not Silicon Valley technologists or financiers. That’s why I decided to support Dogecoin – it’s like a people’s cryptocurrency.”

Elon Musk supports Dogecoin because of his employees.

The Dogecoin community immediately welcomed Elon Musk’s comment and support, because it is clear that this is a very “human” act, when a boss shows an interest in supporting the funds. investment or simply the hobby of your employees.

“Most of us don’t come from families with particular backgrounds, and to be honest, we can’t even connect with experts in Silicon Valley,” investor Contessoto also responded. “We just want to believe in a cryptocurrency that represents all of us. Dogecoin is a personified ‘little guy’ in crypto, that’s why we love it. We appreciate your support, Elon.”

For the above reason, other meme currencies will not be supported by the Tesla boss.

Recently, a survey by the specialized price comparison portal, Finder, found that Americans own more Dogecoin than any other country. Dogecoin has the highest adoption in the US with 30.6% of crypto owners saying they own Dogecoin, the survey said. This is 1.6 times higher than the global average adoption rate of Dogecoin. 19.2%.”

Dogecoin is also the number one Google search ranking cryptocurrency in the US, based on the average number of monthly searches.

Elon Musk also previously said that he personally owns three cryptocurrencies, Bitcoin, Ethereum, and Dogecoin. Recently, he also tweeted about some important improvements of Dogecoin and reconfirmed that he does not own any Shiba Inu tokens. Earlier in August, the Tesla boss expressed his agreement with investor Mark Cuban that Dogecoin is the “strongest” cryptocurrency for payments.

Refer to bitcoin.com