Dogecoin prices surged about 8 percent on Tuesday after billionaire CEO Elon Musk reiterated his support for cryptocurrency Dogecoin in a recent interview.
Speaking with Bloomberg News Editor-in-Chief John Micklethwait at this year’s Qatar Economic Forum in Doha, Musk explained his reasoning behind his public endorsement of the digital currency.
“I intend to personally support Dogecoin, because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin—so I’m responding to those people,” Musk said, adding that it was his employees around the Tesla and SpaceX factories who requested that he champion Dogecoin in the public square….