Elon Musk’s romance with the cryptocurrency, especially Dogecoin is getting stronger every day. Now the CEO of Tesla, SpaceX, and Neuralink has made an offer to major Dogecoin holders (whales in crypto terminology) that they should seriously be considering.
“If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo,” he said in a tweet yesterday. He further said that he will literally pay actual dollars ($) if the whales just void their accounts.
The latest Musk tweetstorm related to Dogecoin (DOGE) shows his keen interest in making it a rival to Bitcoin (BTC). There was a time Elon Musk only owned a fraction of a Bitcoin that one of his friends had gifted to him. Now he has just bought an unknown amount of Dogecoin for his little son X.
However, the whales have not yet responded to Musk’s proposal. But since then, the Dogecoin price has risen from $0.049299 to $0.062332 at the time of this writing.
Elon Musk confirmed that if the Dogecoin whales are found to be playing over smart and distributing their digital currency over several wallets to make a fake impression of selling their coins, Musk’s endorsement offer will be invalidated.
The fun side of Dogecoin’s official Twitter account woke up at this moment and it replaced ‘Dogecoin holders’ in Musk’s first tweet (above) with ‘US Dollars’ — pretty hilarious but actually still true, ‘too much concentration is the only real issue’.
Some crypto and tech pundits think that instead of selling, the Dogecoin whales should donate the coins to minimize the concentration but what will motivate them to do so?