Tesla CEO Elon Musk believes that a lot of DogCoin is held by very few whales and has given them a huge offer. He would give his full support if they would sell most of their coins, and even destroy their coins in some doable fashion to pay real money for them. Some believe that the leading DogeCoin holders need to consider Musk’s proposal for the long-term health of mem cryptocurrencies.

Elon Musk big offer to big Dogecoin holders

Elon Musk believes that the uneven concentration of DogeCoin in the hands of some holders is the only real issue with mem cryptocurrency and has offered his help to solve the problem.

The CEO of SpaceX tweeted on Sunday – if the leading DogCoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue IMO. I would really pay real $ if they just zeroed in their accounts. “At the time of writing, his original tweet received 24.7K comments and has been liked 297.9K times. His follow-up tweet received 6.4K comments and has been liked 93.8K times.

Musk did not clarify what he would like to see DogCoin whales do exactly to zero their accounts and did not specify the dollar amount he is willing to pay them. Tesla’s CEO may mean he wants to see holders of the largest dogecoin addresses burn their coins, sending them to addresses without private keys.

According to the Dogecoin Rich List on bitinfocharts.com, an address holds 24.8% of all DOGEs and the top 12 addresses collectively account for about 50% of all dogecoins.

A few hours after his initial offer, Kasturi was asked what would be your acceptable result? He replied, ~ 5%. Kasturi wrote: Comment on an address holding more than 28% of all dogecoins:

A Twitter user believes that a similar situation is happening with BTC, given the huge bitcoin stash of Bitcoin creator Satoshi Nakamoto. “Even with BTC, in fact,” he claimed and displayed an image: “Although the exact figure is unknown, it is estimated that Satoshi Nakamoto may have 1 million bitcoins, equivalent to 100,000,000,000,000 Satoshis Are. Kasturi replied: “An acceptable percentage. Doge is a lot more focused.

Another Twitter user commented to Musk, saying – though the price may not reflect that right now, Elon Musk ultimatum is good for Dogicoin. It turns out that his jokes are not just jokes, and he legitimately sees dogecoin potential as being the Internet’s leading currency. He wants DOGE to succeed. Destiny loves irony.

Oysters agreed, simply replying with: “Absolutely.” The Tesla CEO also agreed with the user’s follow-up statement:

A third Twitter user suggested to Kasturi: “Develop a new AlinCoin, offer them zero your wallet to existing non-major DogCoin holders. You don’t need to pay $ to make those major DogCoin holders rich. Hoagie, which they already own and allocate their time and support to make the Earth’s currency grow. Musk replied: “Only if necessary.

Musk has been tweeting about DogeCoin for a long time and the price of cryptocurrency skyrocketed after his tweets. Earlier this month he tweeted, DogeCoin is crypto of people. He also found out why he was tweeting about DOGE: “Occasionally, I make jokes about dogecoin, but they are meant to be jokes. Dogecoin as a joke to make fun of cryptocurrency.” Was made. Obviously. However, he concludes: “But fate loves irony, and is often the most ironic outcome or the most likely entertaining result. And I think the most amusing and ironic result is that dogecoin becomes the currency of the earth in the future.

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.