Elon Musk Bets $1M on Dogecoin: Can it Reach $0.10?
• Elon Musk, CEO of Tesla Inc. and owner of Twitter Inc., has placed a $1 million bet in Dogecoin to disprove claims that he owns an emerald mine.
• The bet was sparked by a 2014 interview given by Musk to Forbes where he mentioned that his father owned a share in an Emerald mine in Zambia.
• The billionaire’s move is seen as a subtle shill for the meme coin which could help push its price up to $0.10.
Elon Musk’s Bet on Dogecoin
Recently, billionaire Elon Musk, the CEO of American multinational electric manufacturing company Tesla Inc and the new owner of the micro-messaging platform, Twitter Inc has placed one of the biggest bets featuring the Dogecoin (DOGE) memecoin – 1 million DOGE tokens. The bet was provoked by claims that Musk owns an emerald mine which originated from a 2014 interview granted by him to freelancer Jim Clash which was later published on Forbes.
Emerald Mine Claims Revived
This story had died down over the past years but it has been revived this year due to speculations from YouTuber and podcaster Cody Johnston who believed that the billionaire did own such a mine based on his statement in his Forbes interview; “This is going to sound slightly crazy, but my father also had a share in an Emerald mine in Zambia.“ As such, Elon Musk put out a challenge stating that he would give out 1 million Dogecoins as reward for any evidence proving his ownership of said emerald mine. This was then followed up by @cb_doge who promised 69,420 DOGE coins for anyone with relevant proof of existence of such a mine.
Vote Of Confidence In Dogecoin
The fact that Elon Musk offered to give out rewards using Dogecoin is seen as not only being supportive for DOGE but also as being another vote of confidence from him towards this cryptocurrency which has become one of his most favored cryptos since last year when he started making frequent tweets about it. This news could potentially lead to further growth and adoption for this crypto asset as more people become aware and interested in what’s happening around it now.
Can Price Reach $0.10?
It remains unclear if this news can push its price up to $0.10 per token or even higher prices than that seeing as how unpredictable markets can be at times however what we do know is that there have been increased interests regarding not just Dogecoin but other cryptocurrencies at large since last year so it’s possible we may witness some good performances from these coins soon enough especially if they continue getting support from major players like Elon Musk himself and other celebrities too .