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Cardano founder Charles Hoskinson speculated about Elon Musk’s potential Dogecoin holdings, suggesting that Musk could hold up to 20% of the supply. This speculation came up during Hoskinson’s appearance on The Thinking Crypto Podcast, where he discussed various topics including the relationship between Cardano and Musk.
Dogecoin, originally created as a joke cryptocurrency in 2013, has grown significantly in prominence, becoming a top 10 cryptocurrency by market cap. Musk’s vocal support and frequent tweets about Dogecoin have been a major driver of its popularity and value.
Hoskinson’s remark about Musk holding 20% of Dogecoin was not based on concrete evidence but rather was a provocative comment aimed at exploring why Musk has shown such strong interest in Dogecoin compared to other cryptocurrencies like Cardano. He questioned why Musk had this “bizarre fetish for Dogecoin” and mused about the possibility of significant holdings as a reason for his ongoing promotion of the meme coin.
In a recent discussion on X Space, Musk confirmed that he owns a significant amount of Dogecoin and that SpaceX holds Bitcoin. While Musk’s exact holdings in Dogecoin remain undisclosed, his influence on the cryptocurrency is undeniable. His enthusiastic endorsements and tweets have often led to significant price movements and increased interest in Dogecoin.
Hoskinson’s comments highlight the curiosity and speculation surrounding Musk’s involvement in the cryptocurrency space and his potential impact on specific digital assets like Dogecoin.
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