A series of tweets sent by Musk overnight sent Bitcoin rival over 50% into trading on Thursday.
the first in a series of tweets there was only one word: “Doge.” It was followed by other tweets pulling out the currency, which traded at 5 cents early Thursday, from about 3 cents before his tweets.
“Dogecoin is the crypt of the people,” he said tweet.
“No highs, no lows, just Doge,” he said posted later.
It is not the first time that his Twitter attention to Dogecoin is sending growing shares. On December 20, a tweet saying “One Word: Doge” sent the value by 20% and made it a trending topic on Twitter.
Musk had previously been critical of the more established and more expensive cryptocurrency, calling it BS in some tweets. But in a Sunday interview on the social app Clubhouse, Musk said he should have bought the digital currency eight years ago.
“Right now I think bitcoin is a good thing. I’m late for the party, but I’m a supporter of bitcoin,” he said.
Apparently he is determined not to delay the party at Dogecoin.
– Jazmin Goodwin of CNN Business and Hanna Ziady contributed to this report