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Elon Musk: Keep Bitcoin, Ethereum and Dogecoin but also hold physical things (March 14, 2022)

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Mark Lubbers
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Elon Musk, the CEO of Tesla and SpaceX and currently the world's richest person, said on his Twitter that it was better to own physical things instead of United States dollars when inflation was running high. He appeared to make an exception for cryptocurrencies.

He tweeted: https://twitter.com/elonmusk/status/1503222294277197829

The popular cryptocurrency Dogecoin quickly jumped as much as 10% during Asian trading hours this Monday after he made his tweet. According to Coindesk, the spike was probably driven by automated trading bots that track token mentions from popular accounts on social media sites like Twitter. Musk’s Twitter account, for instance, has a following of over 77.6 million.

Elon Musk’s Tesla company already started accepting DOGE payments on its merchandise store earlier this year. DOGE payments continue to remain active, and the "Giga Texas Belt Buckle" and other products are priced in both United States dollars and DOGE.

Sources: https://markets.businessinsider.com/news/currencies/elon-musk-own-physical-things-wont-sell-bitcoin-ether-doge-2022-3 https://www.coindesk.com/markets/2022/03/14/dogecoin-spikes-briefly-after-musk-says-he-wont-sell-his-crypto-holdings/ https://twitter.com