Dogecoin Spikes 10% After Elon Musk Reveals He’s Not Selling

Dogecoin has been on a recovery trend lately. This is attributed to recent comments from Elon Musk, the ‘Dogefather’, that has seen prices spike. Musk who has been a vocal supporter of the meme coin is one of the major reasons behind the popularity and success the cryptocurrency enjoyed last year. Now, once again, the billionaire is also behind the recent spike in the price of the digital asset. Dogecoin Jumps 10% Elon Musk recently talked about inflation and naturally, as expected with the SpaceX CEO, the discussion had pivoted to cryptocurrencies. The billionaire had shared some insights regarding how to deal with inflation, which seems to be growing by the day. According to him, to fight inflation such as this, one would need to own physical things as opposed to the dollar. Related Reading | Bitcoin Hashrate Swells 15% Since Last Week As Analysts Expect Mining Difficulty To Increase These “physical things” that Musk referred to were things like a home or stock in a company that makes good products, which is useful when inflation is high. However, when it comes to selling virtual things like cryptocurrencies, Musk did not agree that selling them was good. He explained that he still owned bitcoin and wasn’t going to “sell my Bitcoin, Ethereum, or Doge. As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good ...