Cryptocurrency space
No, Elon Musk is Joking about his love for “Dogecoin.”
Tesla Co-founder Elon Musk’s recent tweet connotes his stance in the cryptocurrency space. Though not clear if it’s a joke or not
Key points
Elon Musk strikes again with a crypto-related tweet insinuating he loves Dogecoin.
Musk is neither for or against Bitcoin.
Elon Musk, CEO of SpaceX and Tesla, has a long record of tweeting bizarre things about cryptocurrencies. Notably, some of his tweets have been translated to mean much more than he intended.
On March 3, Musk posted a tweet of a dog picture and a comment that stated, “They have the best coins.” Some interpreted the tweet to mean that Musk has finally chosen a cryptocurrency, Dogecoin (DOGE).
Dogs rock pic.twitter.com/vLJGyZo5Sx
— Elon Musk (@elonmusk) March 3, 2020
Like many of his crypto-related posts, it received many reactions and commented with pictures of different animals. Some in the cryptocurrency community, however, spread the news that Musk has finally declared his stance, and it was not Bitcoin.
Others, however, saw this as another marketing stance to push up Dogecoin’s price, “such celebrity. much endorsement.” Reportedly, Dogecoin started the week trading at $0.002223 and saw an upward trend to the $0.002454 mark following the tweet.
Was Musk joking about DOGE?
Taking a close look at his tweets, Musk carefully chooses his words, making it harder to decide whether or not he was joking about Dogecoin. In actual sense, Musk never explicitly said Dogecoin is the best. Instead, the content of his tweet included a caption stating “Dogs rock,” with an image of a dog celebrating its birthday without any concept of numbers. Below the picture was the words: “They have the best coins.”
This is not the first time Musk has tweeted content that mentioned his support for Dogecoin. Last year, during April fool’s day, Elon tweeted that he was the CEO of Dogecoin.
Created as a joke
Jackson Palmer and Billy Markus.DOGE born out of the “doge” meme in honor of a dog of Shiba-Inu breed reportedly created Dogecoin as a joke. However, the project took on a life of its owner and has gained following over the years.
One user on Twitter believes Musk does not take cryptocurrencies seriously since he has failed to make his stance. He tweeted:
“He does not respect cryptocurrency, or he would have picked a legitimate project. I brought doge like most and learned it was met to be a joke.”
He does not respect #cryptocurrency or he would have picked a legitimate project. I brought #doge like most and learned it was met to be a joke.
Decrypt: Elon Musk says #dogecoin is the best cryptocurrency.https://t.co/vK1CtFvnMt
via @GoogleNews
— Retro Crypto (@DwightWashingt6) March 4, 2020
Other crypto-related tweets
in one of his previous tweets earlier this year, Musk posted, “Cryptocurrency is my safe word.” This was followed by another tweet that read:
“Bitcoin is *not* my safe word.”
https://twitter.com/elonmusk/status/1215526980449255424?lang=en
In a January 20 podcast, Musk explained that he does not have a clear stance when it comes to cryptocurrencies. He stated he was “neither here nor there on Bitcoin.”
In yet a different incident, Musk randomly tweeted “Et