21.7 C

Elon Musk’s one-word ‘Advice’ for Dogecoin Cryptocurrency holders

Tesla CEO Elon Musk has been quite vocal about his faith in Dogecoin, the meme-coin cryptocurrency that shot up in value earlier this year. Now, Musk has some advice for Dogecoin owners.

In a response to Bill Lee, the founding partner at West Coast Holdings and an investor in Musk’s companies, Musk agreed with the fact that till the wallet keys are not in a user’s possession, they should not consider the holdings as “their own.”

In a one-word response, Musk said “Exactly”, responding to a tweet from Lee, who said “not your keys, not your crypto,” in a response to a tweet saying that the idea of MyDogeWallet, a Dogecoin Metaverse gateway is to break the dependence on exchanges such as Binance and Robinhood.

“The core focus of the @MyDogeOfficial vision is to break the dependence on CEXs like Binance and Robinhood and let #shibes take custody of their own coins!” a Twitter user who goes by the username @MyDogeCTO said.

To this, Lee responded by saying, “not your keys, not your crypto.” Musk strongly agreed with Lee with his one-word response, “Exactly.”

Musk did not elaborate his point, but the Tesla CEO is a supporter of people holding their own assets rather than letting an exchange like Binance and Robinhood take care of it.

Another reason for this is that hackers usually target big exchanges as they are meaty targets. Robinhood, for example, said earlier this month that its servers have been breached by an unauthorized third party.

Musk has been a vocal supporter of Dogecoin, a meme-coin that came from a Shiba Inu meme. Musk has on multiple occasions urged Dogecoin owners to hold their coins, as the Tesla CEO expects Dogecoin’s value to shoot up “to the moon.”

Dogecoin enters the Top #5 Global rank_TechnoSports.co.in

Recently, Musk lashed out at Binance over the cryptocurrency exchange limiting withdrawals for Dogecoin. “Hey @cz_binance, what’s going on with your doge customers? Sounds shady,” Musk tweeted on Tuesday. An upgrade of the Dogecoin network on the 10th of November seems to have caused an issue with withdrawals, Binance said in a statement the next day.

Also read:


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sumedh Joshi
Sumedh Joshi
For promotions, launch articles, and reviews contact us at - [email protected]



Related Stories

More from author

JBL launched the PartyBox 710, 110, and Encore Essential speakers

JBL has launched three new speakers in India, the latest audible devices from the brand include the PartyBox 710, the PartyBox 110, and the...

Motorola will launch its new Edge Series on the 8th of September

Motorola has unveiled its Edge 2022 Series a while ago, these devices will be the first to feature MediaTek's Dimesnity 1050 chipset but it...

Google Pixel 7 and 7 Pro prototype models leaked in an exclusive hands-on video

Google teased its upcoming Pixel 7 Series a couple of months ago at its developers' conference, we only got to see snippets and a...

Google likely to support WearOS smartwatch backups to Google One

Google is attempting to improve the experience for Android devices as we see more and more WearOS devices being introduced into the market, the...