Elon Musk will continue to back Dogecoin, despite the bear market

Elon Musk reaffirmed his support for the cryptocurrency Dogecoin, despite the ongoing market correction. On this matter пишет Bloomberg.

The head of SpaceX and Tesla stressed that he never urged people to invest in a cryptocurrency he favours.

“I know that many people who are not so wealthy inspired me to buy and support Dogecoin. To these people I can say — I intend to personally support Dogecoin,” he said.

According to Musk, Tesla will continue to sell goods for Dogecoin and SpaceX will soon follow suit. The billionaire also said that his companies bought Bitcoin using a small percentage of cash reserves.

Earlier, Musk actively promoted the meme cryptocurrency. In April 2022, the entrepreneur proposed lowering the price of Twitter Blue and giving users the option to pay for premium service in DOGE.

He also advocated a broader integration of digital payments into the social network.

Earlier, Musk, SpaceX and Tesla filed a $258 billion lawsuit for promoting Dogecoin.

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