Tesla CEO and prominent supporter of cryptocurrencies, Elon Musk said that he supports top holders of the meme-based digital currency Dogecoin selling most of their coins.
“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 wrote in a tweet on Sunday.
Musk’s company Tesla Inc. recently bought $1.5 billion of the cryptocurrency bitcoin. It will also accept bitcoins as a form of payment for its car purchases.
Dogecoin is the 12th largest cryptocurrency having a market cap of $8 billion. Musk purchased the cryptocurrency for his son lil X, “so he can be a toddler holder,”
If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
— Elon Musk (@elonmusk) February 14, 2021