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ELON MUSK WARNS DOGE COULD HIT THE PRICE OF BITCOIN RIVAL DOGECOIN ($DOGE )
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It Will ‘Drop’—Elon Musk Warns Doge Could Hit The Price Of Bitcoin Rival Dogecoin
Elon Musk's Doge department of government efficiency, named for the meme-based bitcoin rival dogecoin, has sent shockwaves through Washington as Musk repeatedly warns of U.S. "bankruptcy."
Now, as traders brace for Musk to announce a crypto game-changer, Musk has said that if his Doge department is successful in combating inflation, it could drive down the price of bitcoin, dogecoin and other major cryptocurrencies.
The dogecoin price has rocketed higher along with the bitcoin price following Donald Trump's U.S. presidential election that Musk campaigned for, with traders betting the Tesla billionaire and X owner will help Trump create a pro-crypto administration.
"If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal," Musk wrote to X in response to a post by Garry Tan, the chief executive of startup incubator Y Combinator. "What matters is the ratio of dollars to crypto," Musk added.
Tan had posted a video of Canada's Conservative Party leader Pierre Poilievre explaining how he would reduce inflation in the country by reducing "overspending."
"My 2025 prediction was dogecoin goes up if Elon’s Doge is successful, and this is why," Tan posted.
#MicroStrategyAcquiresBTC
FOLLOW ME FOR MORE INSIGHTS ...
It Will ‘Drop’—Elon Musk Warns Doge Could Hit The Price Of Bitcoin Rival Dogecoin
Elon Musk's Doge department of government efficiency, named for the meme-based bitcoin rival dogecoin, has sent shockwaves through Washington as Musk repeatedly warns of U.S. "bankruptcy."
Now, as traders brace for Musk to announce a crypto game-changer, Musk has said that if his Doge department is successful in combating inflation, it could drive down the price of bitcoin, dogecoin and other major cryptocurrencies.
The dogecoin price has rocketed higher along with the bitcoin price following Donald Trump's U.S. presidential election that Musk campaigned for, with traders betting the Tesla billionaire and X owner will help Trump create a pro-crypto administration.
"If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal," Musk wrote to X in response to a post by Garry Tan, the chief executive of startup incubator Y Combinator. "What matters is the ratio of dollars to crypto," Musk added.
Tan had posted a video of Canada's Conservative Party leader Pierre Poilievre explaining how he would reduce inflation in the country by reducing "overspending."
"My 2025 prediction was dogecoin goes up if Elon’s Doge is successful, and this is why," Tan posted.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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