Cardano Founder Says Elon Musk May Hold 20% of Dogecoin Supply

Joshua Ramos
Source – The Indian Express

Since its inception in 2013, Dogecoin has remained the leading meme coin within the digital asset sector. That prominence has only grown and has seen it become a top 10 cryptocurrency by market cap. Subsequently, Cardano founder Charles Hoskinson questioned if Elon Musk held 20% of the Dogecoin supply in a recent interview.

As a guest on The Thinking Crypto Podcast, Hoskinson talked with Tony Edward about Cardano and Musk. Specifically, he discussed the potential points of cooperation that exist between the two entities. When he revealed a lack of interest from the Tesla CEO, he remarked that it could be due to his investment in DOGE.

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Cardano Founder Question’s Musk DOGE Holdings

The Cardano ecosystem is set to undergo some massive transformations in the coming years. Earlier this month, the network revealed that its Voltairse upgrade was poised to take place in June. Indeed, the development asserts that Input-Output Global (IOG) was set to tackle some exciting obstacles in the near future.

That is what led Edwards to discuss Musk and any potential cooperation between the X head and the Cardano Network. Musk has been outspoken about his interest in cryptocurrencies. Moreover, the interests of the two entities would align to make a natural fit.

Hoskinson noted that Musk has exhibited no interest in the Cardano network. Thereafter, he asked why the prominent entrepreneur has “this bizarre fetish for Dogecoin?” Subsequently, the Cardano founder then questioned if Musk held 20% of the Dogecoin supply.

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The figure was simply made up by Hoskinson, but it did lead to some intrigue into the reality of Musk’s DOGE holdings. In a recent X Space, Musk confirmed that he owned significant Dogecoin while affirming that SpaceX maintains Bitcoin holdings.

The connection between Musk and Dogecoin has been undeniable. The former went as far as to be called the Dogefather at one point. Yet, there is no telling what his holdings are, as the world’s richest man could very well own 20% of all DOGE.