Tesla CEO Elon Musk supports top dogecoin holders selling most of their coins

A well-known supporter of cryptocurrencies, Tesla CEO Elon Musk has weighed in regularly on the recent frenzy in retail investment, driving up prices of dogecoin.
By : Reuters
| Updated on: 15 Feb 2021, 12:28 PM
Tesla CEO Elon Musk
Tesla CEO Elon Musk
Tesla CEO Elon Musk
Tesla CEO Elon Musk

Billionaire Elon Musk has said that he supports major holders of the meme-based digital currency dogecoin selling most of their coins, adding that he felt too much concentration in dogecoin was the "real issue".

"If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo", Musk said in a tweet.

(Also read | Tesla's investment in Bitcoin: Reason and impact)

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A well-known supporter of cryptocurrencies, Musk has weighed in regularly on the recent frenzy in retail investment, driving up prices of dogecoin and shares of U.S. video game chain GameStop.

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Musk's electric vehicle company Tesla Inc revealed on Feb. 8 it had bought $1.5 billion of the cryptocurrency bitcoin and would soon accept it as a form of payment for cars.

First Published Date: 15 Feb 2021, 12:28 PM IST
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