Tesla CEO Elon Musk Shares Dogecoin Video — Says It 'Explains Everything'

Elon Musk Shares Dogecoin Video

Tesla and Spacex CEO Elon Musk shared a video about the meme cryptocurrency dogecoin (DOGE) on April 1 in reply to a tweet about bitcoin by Brett Winton, Ark Invests director of research.

In the tweet, Winton quoted a conversation about bitcoin mining where he seems to be having difficulty explaining to his mom on April Fools Day that bitcoin miners are computers. Replying with a meme video titled “Ð is for Ðogecoin” on the same day, Musk wrote: “Just show her this video explains everything.”

The short video features the DOGE mascot on a journey to the moon. The shiba inu on a rocket passed bitcoin and other major cryptocurrencies as the price of DOGE soared.

Winton replied to Musk: “A meme too far for her Im afraid. (On the other hand, my 5-year-old is now frantically agitating to set up a Coinbase account).”

Dogecoin co-creator Billy Markus commented on Musks tweet, stating that the meme video is the “best cryptocurrency video in history.”

Musk shared this particular video on Twitter before, including on Feb. 7 last year when he tweeted: “Ð is for Ðogecoin! Instructional video.”

The DOGE community is ecstatic that Musk tweeted about their favorite cryptocurrency again. They have long called the Tesla CEO “the Dogefather” and appreciated him sending the price of dogecoin upward with his tweets.

Dogecoin, the 12th largest cryptocurrency by market cap, is trading at $0.1431 per coin at the time of writing, based on data from Bitcoin.com Markets. However, Musks latest DOGE tweet did not move the market much. The meme coin was hovering around $0.1420 when he tweeted.

Musk confirmed in March that he owns bitcoin, ether, and dogecoin, emphasizing that he will not sell them. The Tesla boss believes that dogecoin is the peoples crypto and DOGE is the best cryptocurrency for transactions. In contrast, he sees bitcoin as a store of value. His electric car company also accepts DOGE for some merchandise.