Main navigation

Elon Musk Insists He Doesn’t Control Dogecoin

News
Wed, 05/26/2021 - 05:57
article image
Alex Dovbnya
Elon Musk claims his ability to take action is limited when it comes to Dogecoin
Elon Musk Insists He Doesn’t Control Dogecoin
Cover image via www.facebook.com
Read U.TODAY on
Google News

Amid growing concern over Elon Musk tightening his grip on Dogecoin and the broader crypto industry, the centibillionaire recently took to Twitter to clarify that he doesn’t actually control the project.

When a prominent community account praised Musk for treating Dogecoin like his own company by actively promoting it and engaging in its development, the entrepreneur replied that his ability to take action is "limited”:

Please note Dogecoin has no formal organization & no one reports to me, so my ability to take action is limited.

Related
Elon Musk Asks Followers to Submit Dogecoin Development Ideas

Back in April 2019, Musk tweeted that Dogecoin was his “favorite cryptocurrency” after winning an April Fool’s Day poll to be appointed as the joke cryptocurrency’s new crypto.

The Tesla boss is now attempting to increase the coin’s scalability to make it the world’s currency.

article image
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.