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Elon Musk said Wednesday he bought Dogecoin, whose pet is a Shiba Inu puppy (R), for his 9-month-old son, X month A-XII (L).
Twitter; Getty Images
Elon Musk raised the price of Dogecoin again on Wednesday by claiming he bought part of the cult cryptocurrency for his infant son, X Æ A-Xii.
“Bought some Dogecoin for lil X, so it can be a hodler for toddlers” tweeted the billionaire CEO of Tesla at 10:08 a.m., using an intentionally misspelled slang term for someone who has cryptocurrency instead of selling it.
According to CoinDesk data, the price of Dogecoin began to rise a minute after Musk posted it on Twitter and topped 8 cents before comparing gains.
The currency, which began as a joke and was inspired by an Internet meme, was recently trading at about 7.5 cents, about 4 percent from the previous day.
Musk did not disclose the amount of Dogecoin he bought for his 9-month-old son, whose mother is electronic musician Grimes. Musk also did not say whether he himself owns any Dogecoin.
Musk’s tweets have caused Dogecoin to rise several times in recent months, which has helped it gain more attention and become one of the most valuable cryptocurrencies on the market.
The founder of SpaceX has said that his Dogecoin posts are meant to be jokes. But he’s a fan of Bitcoin, as evidenced by Tesla’s announcement Monday that he had bought $ 1.5 billion from the world’s largest cryptocurrency.