Altcoins

Elon Musk Has Message for Dogecoin Holders Who Want to Make a Lot of Money

Tesla CEO Elon Musk recently urged his followers to ditch a fiat-centric worldview in a recent tweet.  

The bombastic billionaire posted a Matrix-themed meme that shows Neo asking a Shiba Inu-headed Morpheus if he can make “a lot of money” with Dogecoin.

In turn, the cynocephalus replied that the popular meme cryptocurrency is, in fact, money, thus urging the iconic Keanu Reeves character not to focus on fiat gains.

And finally pic.twitter.com/TcgwMSyjAy

— Elon Musk (@elonmusk) July 25, 2021

This is not the first time that Musk stirs buzz on Twitter with references from “The Matrix.” In May 2020, he encouraged his followers to take “the red pill.” The term has acquired a rather pejorative connotation after being adopted by some radical groups that want their followers to wake up to society’s alleged lies.    

Take the red pill 🌹

— Elon Musk (@elonmusk) May 17, 2020

At “The B Word” conference that took place last week, Musk criticized the government as “the ultimate corporation”:  

I think it’s a false dichotomy to look at government and sort of industry as separate…government is…the ultimate corporation.

1 DOGE = 1 DOGE?

The most recent meme appears to have derived from the “1 BTC = 1 BTC” tautology, which has permeated the Bitcoin community that doesn’t want to obsess over dollar-denominated prices.

This might serve as some sort of consolation for Dogecoin holders who are hurting big time now that the cryptocurrency is trading a whopping 73 percent below its May 8 all-time high of $0.73.

Musk’s most recent shout-out did little to alleviate the joke coin’s predicament, merely resulting in a quick 3 percent price spike.     

While Bitcoin cannot be inflated since the maximum number of coins is capped at exactly 21 million, Dogecoin has an infinite supply.

Dallas Mavericks owner Mark Cuban, another prominent Dogecoin supporter, claimed that inflation could actually make Dogecoin a successful currency.

During the recent Bitcoin event, Musk reiterated that Dogecoin’s success would be the most ironic and entertaining outcome.

   

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