Elon Musk Supposedly Holds a Dogecoin (DOGE) Bag to Go With His Public Affection for the Meme Coin

Tesla boss and X owner Elon Musk supposedly holds a Dogecoin bag to go with his public affection for one of crypto's biggest meme coins.

Elon Musk is revealing his crypto holdings in a new audio clip that appears to show the world’s richest man saying he owns “a bunch of Dogecoin.”

Musk also said his automobile maker, Tesla, holds lots of Bitcoin (BTC), the premier digital asset that is now worth more than Meta, Silver, and Saudi Aramco.

While crypto.news was unable to verify that the voice is indeed Musk’s, the recording suggests he has a sizable position in the largest meme coin by market capitalization.

“I still own bunch of Dogecoin and SpaceX owns bunch of Bitcoin” pic.twitter.com/xupe3Y45e4

Dogecoin (DOGE), which launched in 2015, has risen 431,691% in the nine years since its debut. The Shiba Inu dog-inspired token is deeply ingrained in crypto lore as one of the founding meme coins.

Musk first began publicly showing his appreciation for Dogecoin between 2018 and 2021, as mainstream interest in crypto started to surge. The billionaire described the coin as interesting on a technical level as a currency and funny as a meme. Tesla went on to add DOGE as a merchandise payment option on its website in early 2022.

Tesla briefly bought Bitcoin in 2021, but it later sold some of its holdings. Musk cited environmental concerns regarding Bitcoin mining and node operations. However, he indicated that Tesla might reconsider its Bitcoin support if energy issues were resolved.

Last month, Tesla was seen quietly moving $769 million of its Bitcoin into new wallets. Observers suggested the move signaled a shift in Musk’s thinking and that Tesla may resume its Bitcoin support.

Meanwhile, DOGE remains the top meme coin in crypto, with a market capitalization of $55 billion at press time. The token peaked at around $90 billion in 2021 and currently trades 50% below its previous all-time high.

Speculators are hoping that DOGE will return to its ATH this cycle and may receive further public backing from Musk. In August, a judge dismissed a multi-billion-dollar lawsuit against Tesla’s CEO that alleged he ran a DOGE pyramid scheme.

Musk went on to say that he was interested in re-adding DOGE to Tesla’s platform less than 24 hours after the court’s verdict.

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