Elon Musk revealed the real reason for his support for Dogecoin. Many people at Tesla and Spacex said he owns Dogecoin.

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Elon Musk revealed the real reason why he supports the memetic cryptocurrency Dogecoin. He shared many of the people he talked with at his company, Tesla and Spacex, who own Dogecoin, and pointed out that “it feels like people’s cryptocurrency.”

Elon Musk talks to many people who own Dogecoin at Tesla at Spacex

Tesla and Spacex CEO Elon Musk revealed on Sunday the real reason why he started supporting Dogecoin. He pointed out that many of the people he talked to at the two companies own the meme cryptocurrency.

In response to a tweet from Dogecoin holder Glauber Contessoto, Musk wrote:

I have talked to many people on the Tesla production line, or built rockets in Doge, which is owned by Spacex. They are not financial experts or Silicon Valley technologists. This is why I decided to support Doge-it feels like people’s cryptocurrency.

The Governor’s community welcomes Musk’s comments and support. “Most of us are not from a privileged background, and honestly, we can’t connect with the experts in Silicon Valley,” Contessoto replied. “We just want to believe in the cryptocurrency that represents all of us. Dogecoin is the little guy in cryptocurrency, that’s why we like it. We thank you for your support, Elon.”

A survey by price comparison portal Finder shows that more people own Dogecoin in the United States than any other country. The survey pointed out:

Dogecoin has the highest adoption rate in the United States, with 30.6% of cryptocurrency owners saying they own Dogecoin. This is 1.6 times the global average adoption rate of 19.2%.

At the time of writing, the price of Dogecoin has increased by 11.31% in the past week. According to data from Bitcoin.com Markets, the price of Dogecoin is $0.2664.

Musk has previously stated that he personally owns three cryptocurrencies: Bitcoin, Ethereum and Dogecoin. On Sunday, he posted several important Dogecoin improvements on Twitter and confirmed that he does not have any shiba inu tokens. In August, the Tesla boss agreed with Shark Tank star Mark Cuban that Dogecoin is the “strongest” payment cryptocurrency.