Tesla CEO Elon Musk has reaffirmed his support for the dogecoin (DOGE) cryptocurrency meme a few times this weekend. On Sunday, Musk tweeted that he would continue to support DOGE.
On Saturday, Dogecoin co-creator Billy Markus tweeted that his wish is for people to use DOGE for something other than pumping so it has a reason to exist. Musk responded that dogecoin can be used to buy goods at his companies Tesla and Spacex and more in the near future.
Tesla began accepting dogecoin for a number of items in January. Last month, Musk said that SpaceX would soon accept DOGE for merchandise, and that Starlink subscriptions would likely follow.
Musk has long been a dogecoin advocate. He is known in the crypto community as Dogefather. He believes that DOGE is everyone’s cryptocurrency and has potential as a currency. In contrast, he said bitcoin is more suitable as a store of value.
The former Tesla director also revealed that he personally owns DOGE in addition to BTC and ETH.
Last week, a dogecoin investor sued Musk, Tesla, and Spacex for promoting a crypto meme. The $258 billion class-action lawsuit alleges that Musk and his companies deceived that dogecoin was a legitimate investment when it had no value at all. The plaintiff claims that Musk, Tesla, and Spacex are participating in a crypto pyramid scheme (aka a Ponzi scheme) through the dogecoin cryptocurrency.
Last week, Musk also hinted that crypto payments will be integrated into Twitter if his attempt to acquire the social media company is successful. However, the $44 billion deal is currently on hold, and Musk has accused Twitter of materially violating their merger agreement.