Elon Musk says he supports top dogecoin holders who sell most of their coins

FILE PHOTO: SpaceX founder and chief engineer Elon Musk looks at his cell phone during a post-launch press conference to discuss SpaceX Crew Dragon’s capsule abortion test at the Kennedy Space Center in Cape Canaveral , Florida, USA, January 19, 2020. REUTERS / Joe Skipper / Photo File

(Reuters) – Billionaire Elon Musk said on Sunday that he supports major holders of the digital currency based on dogecoin memes that sell most of their coins, adding that he considered too much concentration on dogecoin to be “the real problem”.

“If major Dogecoin holders sell most of their coins, they will get my full support. Too much focus is the only real problem imo,” Musk said in a tweet bit.ly/3aj5LEd.

A well-known cryptocurrency supporter, Musk has regularly influenced the recent retail investment frenzy, raising the prices of dogecoins and the shares of the US video game chain GameStop.

Electric vehicle company Musk, Tesla Inc., revealed on Feb. 8 that it has bought $ 1.5 billion in bitcoin cryptocurrency and will soon accept it as a form of payment for cars.

Report by Kanishka Singh in Bengaluru; Montage by Kim Coghill

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