Elon Musk, the CEO of Tesla, stated in early 2021 that he had purchased Dogecoin, sending the meme-price coin’s into a tailspin. In January 2021, Doge surpassed the $1 milestone after soaring 800 percent in 24 hours and reaching a high of $0.07. From January to May 2021, the sky was the limit for Doge, as the dog-themed coin soared to $0.73. Dogecoin basked in the spotlight and swept the financial world off its feet. Musk’s investment in Doge drew millions of new and first-time crypto investors from around the world.
Musk, a self-proclaimed ‘Dogefather,’ has been tweeting and making pronouncements about Dogecoin on a regular basis. The billionaire has complete control over the meme-coin and can manipulate its price with a few tweets. He has unwavering support from the Doge community, which has elevated him to a position of prominence.
Now accepting #dogecoin! Give directly to recipients living in poverty at DJbsZJVxMaRqY1tZXQDk8wZVjU5cJdxKKw https://t.co/BLHcyv4p4A
— GiveDirectly (@GiveDirectly) February 1, 2021
Elon Musk tweeted on February 10, 2021, that he had contributed some Dogecoin to the non-profit GiveDirectly. Redditors investigated the movements of the GiveDirectly wallet and believe Musk donated 150,000 DOGE.
Also, on June 20, 2021, Redditors stated that the same wallet address used to give to GiveDirectly held 2,500,000 DOGE. They drew comparisons by stating that Elon Musk owns 2.5 million Dogecoins and that his wallet address belongs to him.
The Redditor’s assertion, however, should be taken with a grain of salt because it isn’t an official count of how much Dogecoin Elon Musk has.
Musk may even have many wallets for security purposes, and we’d never know. We won’t know the exact figure until Elon Musk publicly declares how much Dogecoin he owns.
