It is no secret that tech billionaire Elon Musk is an avid Dogecoin (DOGE) fan. The Tesla, X, and SpaceX CEO has never shied away from praising the original memecoin. Musk has said that he likes the non-serious nature of the project. He has also said it would be ironic if the currency that started as a joke becomes the currency of the future.
Musk’s comments on DOGE have often led to violent price swings. Moreover, the tech billionaire has also faced lawsuits from DOGE investors who claim they lost money because of Musk.
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However, this has not stopped Musk from continuing his support for DOGE. In a recent X Space discussion, Musk said he still owns a “bunch of Dogecoin,” while SpaceX owns a “bunch of Bitcoin.”
However, unlike before, DOGE prices did not move much after Musk’s comment. The dog-themed crypto is down by over 7% in the weekly charts.
How much Dogecoin does Elon Musk have?
Elon Musk is the wealthiest man in the world. When he says that he has a “bunch” of DOGE, it might mean more than six figures worth. However, it is unclear how much DOGE Musk owns.
One theory suggests that Musk is a mystery Dogecoin (DOGE) whale with over 36 billion tokens. This wallet owns around 28.27% of the total DOGE in circulation. Others dispute this claim and say that Musk is against cryptocurrencies concentrated in the hands of a few.
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Regardless, there is no disputing that Musk is a Dogecoin (DOGE) and cryptocurrency supporter. The billionaire recently spoke about whether Bitcoin (BTC) can be a currency on Mars. According to Musk, the transaction time would be a barrier. However, he did say that localized settlements would help with the transaction delay.