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Elon Musk Discloses That He Isn’t the Head of Dogecoin

  • Elon Musk says that his ability to take action is limited when it’s about Dogecoin.
  • Many Australians believe that Musk is the founder of Bitcoin.
  • DOGE, started as a joke, boomed in its value because of Elon Musk’s continuous tweets.

Elon Musk’s followers believe that he is the CEO of Dogecoin and one tweeted from a dog-themed profile. Replying to that comment, Elon has stated that he has no formal authority over the property and his ability “to take action is limited” when it’s about Dogecoin.

Although his followers believe that he is the head of DOGE, Musk denies and clearly claims that he isn’t the boss of Dogecoin.

Moreover, with reports of the survey taken in Australia, states that more than 50% of the responders believe Musk as the founder of Bitcoin (BTC). This implies that his last few Dogecoin reminders were well timed.

Elon Musk: Reason for unwanted commotion

Additionally, Dogecoin was just started as a joke in 2013, and framed as a meme-currency in the crypto world. The coin was not known to the users until Elon started tweeting about DOGE

Musk’s consequent tweets were the reason for a boost in the value of Dogecoin throughout 2021. Besides, many followed him and started to invest in Dogecoin.

In addition, Musk’s continuous tweets resulted in unwanted disturbance within the crypto-markets, and so he is blamed for this activity.  Others claim that they see irresponsible swings in the cryptocurrency markets because of Elon Musk.

Furthermore, during the mid-May market crash, a Change.org petition was launched urging Elon Musk to sell his Bitcoins and withdraw from cryptocurrency.

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Anshu

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.

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