(Reuters) – Billionaire Elon Musk said on Sunday that he supports key holders of the meme-based digital currency dogecoin that sell most of their coins, adding that he felt too much concentration in dogecoin was the “real problem.”
“If big Dogecoin holders sell most of their coins, that will get my full support. Too much concentration is the only real problem imo,” Musk said in a tweet bit.ly/3aj5LEd.
A well-known supporter of cryptocurrencies, Musk has regularly weighed in on the recent frenzy in retail investment, pushing up the prices of dogecoin and stocks of US video game chain GameStop.
Musk’s company Tesla Inc revealed on Feb. 8 that it had purchased $ 1.5 billion of the cryptocurrency bitcoin and would soon accept it as a form of payment for cars.
Reporting by Kanishka Singh in Bengaluru; Editing by Kim Coghill