(Reuters) – Billionaire Elon Musk said on Sunday that he supports the largest holders of meme-based digital currency dogecoin that sell most of their coins, adding that he thinks too much concentration on dogecoin is the “real problem”.
“If the biggest Dogecoin holders sell most of their coins, it will have my full support. Too much concentration is the only real problem,” said Musk in a tweet bit.ly/3aj5LEd.
A well-known supporter of cryptocurrencies, Musk regularly assesses the recent retail investment frenzy, driving up dogecoin and stock prices on the American video game network GameStop.
Musk’s electric vehicle company Tesla Inc revealed on February 8 that it bought $ 1.5 billion from bitcoin cryptocurrency and would soon accept it as a form of payment for cars.
Kanishka Singh reporting in Bengaluru; Kim Coghill Edition