Tesla Billionaire Elon Musk Signals Suprise Dogecoin ‘Update’ Support As The Bitcoin Price Suddenly Surges
Elon Musk, the Tesla
Don't miss: What (or who) is driving the crypto market in 2021 and beyond? Tune in to Forbes’ free Crypto Codex Live webcast on October 14 at 2:00pm EDT and get ahead of the market
The dogecoin price has exploded this year, rising almost 10,000% since October 2020 and propelling the memecoin into the crypto top ten—helped by Musk's mercurial Twitter persona. For comparison, the bitcoin price has added 400% over the last 12 months, with much of its gains coming after Musk revealed Tesla had bought $1.5 billion worth of bitcoin at the beginning of the year.
Replying to Billy Markus, one of the co-creators of tongue-in-cheek bitcoin rival, Musk agreed that dogecoin miners—who secure the network in return for freshly-minted coins—need to keep their …
More on: www.forbes.com