Elon Musk Won’t be Selling His Dogecoin Holdings

Last Updated: 23 May 2021

Elon Musk, the CEO of SpaceX and Tesla has confirmed that as of now he didn’t sell any of his dogecoins and won’t be selling them in future as the price of the cryptocurrency is sliding over. As Tesla has suspended bitcoin payments for its electric cat, the CEO of Tesla has revealed that he is working with Dogecoin developers to improve the currency citing environmental issues.

What Has Elon Musk Said?

Earlier this week, Elon Musk tweeted an image with the writing “How Much is that Doge in the Window?” He also confirmed that he won’t be selling his dogecoin holding anytime soon. The Twitter user Dave Lee has also jumped into the conversation with Elon Musk via Tweets. He said that the picture that Mr Musk has tweeted is actually a sticker on Musk’s gaming laptop.

In reply, the CEO of Tesla said that this Doge dollar sticker was given to him by a Tesla supporter in Giga Berlin. Dave Lee responded again by saying that he doesn’t think that Elon Musk won’t be selling his Dogecoin holdings as he is one of the main holders of the digital currency. In reply to that, Mr Musk confirmed that he hasn’t sold it yet and won’t be selling it in future too.

At the same time, many people are in debates with Elon Musk that his information about the environmental concerns associated with bitcoin isn’t correct and currency poses no such threats.

Elon Musk Won’t be Selling His Dogecoin Holdings

How Much Dogecoin Does Elon Musk Have?

It is still unsure of the assets of Dogecoin that Elon Musk is holding. However, in his tweet on February 10, he said that he bought dogecoin for a little X which means that he is a smallholder of this cryptocurrency. People have mixed opinions on this matter. Some think that Elon Musk doesn’t hold any dogecoin while others think that he is one of the big dogecoin whales. There are also speculations that the mystery dogecoin whale that owns 36.7 billion dogecoin is Elon Musk. The current value of dogecoin is $0.360.

On previous occasions, Elon Musk has shown some concerns regarding Dogecoin. He said too much attention paid to this currency is one of the main issues. He also said that he is ready to pay anything if big whales of dogecoin void their accounts.

In recent events, he is linking himself with dogecoin a lot. He is referring to himself as Dogefather. His company SpaceX has announced that the company will be sending a DOGE-1 satellite to the moon next year. Elon Musk has also conducted a pool via his Twitter account asking if Tesla should start accepting dogecoin payments or not. 78.2% of people voted in the favor of it.

Elon Musk and Dogecoin

After Tesla suspended bitcoin payments, Elon Musk revealed that he is working with a Dogecoin developer to improve the currency. He said that Dogecoin can increase the block speed and size by 10x which drops the fee by 100x.

Both Elon Musk and Tesla have confirmed that even after suspending Bitcoin payments, they didn’t sell their Bitcoin holdings.

Author
  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.