During a discussion about SpacesTesla CEO Elon Musk revealed that he still owns a bunch of dogecoin and his company SpaceX still owns a bunch of bitcoin. This comes at a time when the community is expecting a rally for these assets and Bitcoin to surpass the important $100,000 mark soon.
The Tesla CEO has long been an advocate for Dogecoin and is also known for causing fluctuations in the price of the meme coin through his endorsements. He previously revealed that he personally owned DOGE alongside BTC and ETH. This recent comment has sparked excitement within the community.
Additionally, Musk’s involvement as leader of the “Department of Government Efficiency” has also reignited interest in Dogecoin. Since the recent announcement, the meme coin has seen an increase of around 25% in its weekly gains. It is currently trading at $0.37, up more than 2% in the last 24 hours.
The market also reacted positively to the news that SpaceX was retaining its Bitcoin holdings, especially after previous reports suggested there had been a potential reduction in their crypto exposure.
Musk defends DOGE
Recently, Musk had supported Dogecoin adage “I think Dogecoin flat inflation, meaning a decrease in inflation percentage, is a feature, not a bug,” in response to Dogecoin co-creator Billy Markus who suggested users offer to remove inflation from Dogecoin if they don’t like it. .
Markus had noted that adding inflation “is ideal for something that is supposed to be a currency, stable, predictable inflation with a decreasing percentage” that is “much, much lower than the dollar.”
With the market currently bullish, Musk’s comments regarding Space X holding a considerable amount of BTC could cause hype in the market. Since Space Currently, Bitcoin is trading at $92,049, up more than 1% in the last 24 hours.