Elon Musk, the CEO of Tesla, the world’s largest electric car manufacturer, bought the cryptocurrency, Dogecoin, for his son.
Elon Musk has bought his 9-month-old son, X Æ A-Xii, a digital currency called Dogecoin
Billionaire entrepreneur Elon Musk gave this information by tweeting on 10 February. Musk said in the tweet, bought some Dogecoin for Lil X so that he could become a hodler. Along with a cute video of his and grimes son with this tweet.
Elon Musk furthers his support for digital currency by investing in Dogecoin for his son. He has about 4.65 crore followers on Twitter.
Dogecoin, a digital currency launched as a sport in 2013, is the simplest of the Shiba Inu puppy.
The digital currency has grown by about 1,244.94 percent in 2021 alone.
Elon Musk’s investment has grown by about 1000 percent in the past week alone.
Today, a dollar is valued at just $ 0.072627, up from $ 0.008939 in January. At the same time, the value of a bitcoin is $ 45,051.22.
Musk, the world’s richest man, tweeted last week on February 4 in support of cryptocurrency Dogecoin.
After his tweet, the prices of cryptocurrency had increased by more than 50 percent.
Now his tweet has led to a 16 percent jump in the prices of Dogecoin. This is not the first time Musk’s tweet has bobbed into a company.
In recent weeks, some Tesla chief’s tweets have increased the value of some companies and cryptocurrencies. Shares of GameStop, CD Projekt, and Etsy have gained momentum following comments about them on their Twitter account.
Elon Musk’s Tesla has recently invested about $ 1.5 billion in Bitcoin, which has come under fire.
The value of Bitcoin has risen by almost 20 percent in the next 24 hours since the announcement.
Not only this, the number of people investing in the cryptocurrency market in India has almost quadrupled.
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