Elon Musk CEO of Tesla Motors
Dogecoin has maintained its position as the top meme coin in the digital asset market since its launch in 2013. Its popularity has only grown, making it one of the top 10 cryptocurrencies by market capitalization. Then, in a recent interview, Cardano founder Charles Hoskinson questioned whether Elon Musk owns 20% of Dogecoin’s supply.
Hoskinson comments came during a conversation with Tony Edward about a prospective collaboration between Musk and the Cardano network. Despite their logical match of objectives, Hoskinson observed that Musk has little interest in Cardano. He suggested Musk’s obsession with Dogecoin as a possible explanation. Though Musk’s 20% number was theoretical, it sparked interest in his actual DOGE holdings.
Cardano Founder Question’s Musk DOGE Holdings
In the coming years, some significant changes are expected to take place in the Cardano ecosystem. The network announced earlier this month that the Voltaire upgrade is scheduled for June. In fact, the news suggests that Input-Output Global (IOG) is going to face some interesting challenges soon.
That prompted Edwards to consider Musk and any prospective collaboration between the X founder and the Cardano Network. Musk has spoken openly about his interest in cryptocurrency. Furthermore, the interests of the two entities would align, resulting in a natural fit.
According to Hoskinson, Musk has not shown any interest in the Cardano network. He at that point addressed, “Why does this celebrated business person have this interesting affection for Dogecoin? “The Cardano maker at that point addressed whether Musk possesses 20% of Dogecoin.
Although Hoskinson made up this number, it raised some questions about the authenticity of Musk’s DOGE holdings. Musk recently admitted at a SpaceX event that he owns a significant amount of Dogecoin. Additionally, he confirmed that SpaceX owns Bitcoin.
The connection between Musk and Dogecoin cannot be denied. At one point, Musk was even called the Dogefather. Still, we cannot tell how much wealth he owns. The richest person on the planet may own a sizable amount of DOGE.
In summary
Charles Hoskinson’s statements have renewed debate about Elon Musk’s possible involvement in Dogecoin and other cryptocurrency projects. Even if the 20% estimate is only theoretical, it still shows how big an influence Musk has on the cryptocurrency industry. For the future of blockchain technology, working with famous individuals like Musk is still an interesting prospect as Cardano evolves with planned enhancements like Voltaire’s.
