Elon Musk apparently owns ‘a bunch of Dogecoin’

Tesla boss and X owner Elon Musk is allegedly holding a Dogecoin purse to show off the public’s love for one of cryptocurrency’s biggest meme coins.

An audio clip showing Elon Musk’s voice has revealed that the world’s richest man owns “some Dogecoin.” Musk also said that automaker Tesla owns a lot of Bitcoin (BTC), the leading digital asset worth more than Meta, Silver, and Saudi Aramco.

Although crypto.news cannot confirm that the voice actually belongs to Musk, records show that he has a sizeable position in the largest memecoin by market cap.

Dogecoin (DOGE) was launched in 2015 and has grown 431,691% in the nine years since its launch. Inspired by the Shiba Inu dog, the token is deeply ingrained in crypto lore as one of the founding meme coins.

Musk first publicly expressed his appreciation for Dogecoin between 2018 and 2021, when mainstream interest in crypto began to grow. The billionaire described the money as interesting as a currency on a technical level and funny as a meme. Tesla added DOGE as a product payment option on its website in early 2022.

Tesla briefly purchased Bitcoin in 2021 but later sold some of its holdings. Musk touched on environmental concerns regarding Bitcoin mining and node operations. However, he stated that Tesla may re-evaluate Bitcoin support if energy problems are resolved.

Last month, Tesla quietly moved $769 million of its Bitcoin to new wallets. Observers predicted that this move signaled a change in Musk’s thinking and that Tesla may continue its support of Bitcoin.

Meanwhile, DOGE remains the largest cryptocurrency in crypto, with a market cap of $55 billion at the time of publication. The token reached nearly $90 billion in 2021 and is currently trading 50% below its previous all-time high.

Speculators believe DOGE could return to its ATH this cycle and receive more public support from Musk. In August, a judge dismissed a multibillion-dollar lawsuit against Tesla’s CEO alleging he was running a DOGE pyramid scheme.

Musk said 24 hours after the court decision that he was interested in re-adding DOGE to Tesla’s platform.