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Elon Musk Sends Dogecoin 8 Percent Higher on Support for Cryptocurrency

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Elon Musk Sends Dogecoin 8 Percent Higher on Support for Cryptocurrency
Representation of cryptocurrency Dogecoin is seen in this illustration taken on Nov. 29, 2021. Dado Ruvic/Illustration/Reuters
Andrew Moran
Updated:
Dogecoin prices surged about 8 percent on Tuesday after billionaire CEO Elon Musk reiterated his support for cryptocurrency Dogecoin in a recent interview.

Speaking with Bloomberg News Editor-in-Chief John Micklethwait at this year’s Qatar Economic Forum in Doha, Musk explained his reasoning behind his public endorsement of the digital currency.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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