- Elon Musk has placed a $1 million bet in Dogecoin to prove he doesn’t own an emerald mine.
- Musk keeps pushing Dogecoin in an attempt to aid the coin’s growth to $0.01.
Elon Musk, the billionaire CEO of American multinational electric manufacturing company Tesla Inc and the new owner of the micro-messaging platform, Twitter Inc has placed one of the biggest bets featuring the Dogecoin (DOGE) memecoin. The bet involved 1 million DOGE tokens as the billionaire provoked crypto Twitter and even the broader media world to go on a discovery hunt for an Emerald Mine that many claims he owns.
Besides being the CEO of Twitter, Elon Musk is one of the most popular personalities on social media platforms. Besides being a major feature of specific trolling, so many aspects of his personal and business life are also often being placed under scrutiny.
The current clamor around the emerald mine has been going on since 2014 and though the story died down over the past years, there has been a revival in the conversation since the start of the year. Those who believed the billionaire had the emerald mine are basing their conviction on the interview granted by Musk to freelancer Jim Clash which was later published on Forbes.
In an interview at the time, Musk said;
“This is going to sound slightly crazy, but my father also had a share in an Emerald mine in Zambia,” a statement that was recently brought to the limelight by YouTuber and podcaster Cody Johnston.
With the story now being taken seriously, Musk has put out a challenge noting that he will give $1 million in Dogecoin to anyone who could provide the relevant proof that he truly owns the emerald mine.
“I will pay a million Dogecoin for proof of this mine’s existence!” Elon Musk said in a tweet in response to a similar comment from one of his biggest fans, @cb_doge who first promised a total of 69.420 to any media with relevant proof of the mine’s existence.
I will pay a million Dogecoin for proof of this mine’s existence!
— Elon Musk (@elonmusk) April 12, 2023
Subtle Shill for Dogecoin, Can it Push DOGE to $0.10?
The fact that Elon Musk offered to give out the reward is a very subtle shill for the memecoin, reiterating the fact that the cryptocurrency is the most revered by the Twitter owner.
This is one of what we can call a vote of confidence for the memecoin, second only to a major stunt from the social media company which used the Shiba Inu logo of the coin as its logo for some days earlier this month.
Elon Musk remains the biggest supporter of Dogecoin and amongst His top promotional tweets, committing $1 million DOGE as a reward for a bet does not seem like one that can drive forward the price of the digital currency to $0.10 at this time.
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It is, however, worth noting that these stunts are further placing cryptocurrency in the limelight to the millions of followers Musk has amassed on Twitter and as such can impact the longer-term embrace of the digital currency.
Dogecoin is changing hands at $0.08778, up 6.42% over the past 24 hours per data from Marketscap.
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