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Elon Musk Believes Dogecoin Is His "Private Stimulus" for People

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Fri, 05/07/2021 - 19:30
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Alex Dovbnya
You could have made almost a million if you had converted your stimulus checks into Dogecoin last year
Elon Musk Believes Dogecoin Is His "Private Stimulus" for People
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While the government is handing out cash to its people to shore up the pandemic-ravaged economy, Tesla CEO Elon Musk, the second-richest person on the planet, took the matter into his own hands with Dogecoin. 

In his most recent tweet, the billionaire entrepreneur claims he views the meme cryptocurrency as his "private stimulus."

Elon Musk
Image by @elonmusk

The coin's massive surge is widely attributed to Musk's Doge-related memes that instantly result in price spikes.                     

Related
Dogecoin Fan Elon Musk Urges Followers to Invest in Crypto with Caution

Your stimulus could be worth almost a million 

Dogecoin has increased roughly 68,000 percent since last March when the U.S. government started sending the first batch of $1,200 stimulus checks.        

Those who invested this cash into Doge right away could have pocketed around $817,000.     

Investing the second stimulus check of $500 would have amounted to over $120,000. Finally, putting $1,400 into DOGE in April could have resulted in over a $19,000 gain.   

Putting $1,200, the amount of the original stimulus check, into Dogecoin back in May 2015 when the cryptocurrency was trading at $0.000086, could have made you $11.2 million.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.