Elon Musk unexpectedly raised speculation that he would invest in Bitcoin via Twitter, "Bitcoin is safer for me" yesterday.
The Tesla founder previously rejected the king of cryptocurrencies as the safest asset in the world although at the same time attracted to the unique structure of Bitcoin.
The tweet caught the attention of Microstrategy CEO Michael Saylor in response: “Convert Tesla assets from USD to BTC. Other firms from the S&P 500 will follow suit and in time will bring its value to $ 1 trillion. ”
However, Musk did not respond after Saylor explained. Instead, Musk uploaded a new tweet: "One word: Doge".
Following the tweet, Dogecoin (DOGE) jumped 20% in 24 hours despite the correction of Bitcoin, Ethereum and other cryptocurrencies after the sharp surge.
DOGE is inspired by the Internet meme "doge" and Shiba Inu as its logo, an altcoin developed by Billy Markus of Portland and Jackson Palmer of Sydney based on the same technology behind Litecoin (LTC).
This is not the first time SpaceX founder has mentioned the currency in his tweet. In April 2019, the figure revealed Dogecoin as its favorite cryptocurrency, bringing the altcoin up about 27% in 24-hour trading, reaching around $ 381 million.
The figure also claimed to be the ‘CEO of Dogecoin’ before switching to the ‘former CEO of Dogecoin’ on his Twitter profile.
