Elon Musk, the CEO of Twitter, has claimed that Bitcoin will eventually rebound, but that it would take some time because the winter has lasted so long. Elon Musk has a significant amount of influence over the DOGE and is particularly interested in the digital currency market.
In addition, Musk is of the opinion that Bitcoin, Ethereum, and Dogecoin all have a bright future, despite the winter that has encircled the digital currency industry and the collapse of the FTX.
As a response to a conversation that was taking place on Twitter about the price of bitcoin, which is currently trading at the level of $16,000 after falling to the level of $69,500 a year ago, Musk offered his thoughts on the future of Bitcoin.
As was said earlier, he is the owner of a number of bitcoins, as are Tesla and SpaceX. In addition, the most recent SEC filings that Tesla has made indicate that the company owns digital assets worth $218 million and that it has sold 75% of its BTC holdings. As someone who is passionate about DOGE, Musk provided a positive response on Twitter on Saturday, stating that DOGE should go to the moon.
Since Musk has been a supporter of the meme digital currency for quite some time, members of the DOGE community call to him as the Dogefather. Recently, the billionaire disclosed that he holds some dogecoins and plans to continue purchasing and supporting the joke digital currency. He also claimed that he expects to continue using dogecoins. He believes that dogecoin has the potential to become profitable.
And since his backing leads DOGE's price to climb, he wants to integrate DOGE payments into the Twitter platform. At the time of this writing, DOGE is trading at $0.08627, which is an increase of 6.30% from its previous price.
He also said on Twitter,
I believe Bitcoin, Ethereum, and Dogecoin have a future. I can’t address the others. But if you have one of those three in a cold wallet and off an exchange, I believe it will work out fine.