Why Does Elon Musk Want Investors To Sell Dogecoins?

Billionaire Elon Musk said tweeted on Sunday that he supported selling of dogecoin and gave reason that too much concentration in dogecoin was the real issue. Dogecoin is a meme-based digital currency and Musk is the supporter of cryptocurrencies. With his tweet, he sent a strong signal to major stakeholders of dogecoin.

How Elon Musk supports cryptocurrencies?

Being a big supporter of cryptocurrencies, Elon Musk had fueled retail investment in digital currencies through his tweets. He recently sent the shares prices of dogecoin on an upward trend. Similarly, he helped the video game chain GameStop record a high growth in its stock prices through his tweets.

Would Elon Musk accept payment in cryptocurrencies?

On February 8, Tesla Inc made an announcement about a recent purchase of $1.5 billion of digital currency bitcoin. Also, the Elon Musk owned company announced that it would soon start accepting payments for its cars in cryptocurrencies.

Source:- https://bit.ly/2N9NbG3