On Feb. xix, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executive'south "gung-ho" pronouncements regarding Dogecoin.

Tesla co-founder and hypothetical Dogecoin (DOGE) CEO Elon Musk has asserted that "only a fool" would non seek out alternative investments to fiat currency given current interest rates on Twitter today.

During the interview, CZ unsaid that Tesla's contempo decision to invest $1.5 billion or vii.seven% of its treasury into Bitcoin (BTC) likely evidenced Musk's deep support for Bitcoin.

On Twitter, Musk said, "Tesla's activity is not direct cogitating of my opinion. Having some Bitcoin, which is simply a less impaired course of liquidity than greenbacks, is adventurous enough for an S&P500 company."

Responding to the insinuation from Musk that he personally holds DOGE in higher esteem than BTC, Blockstream CSO Samson Mow said, "Yous're just sad yous didn't buy sooner."

However, Musk as well asserted it would be foolish not to seek out alternative investments while "fiat currency has negative real involvement":

"When fiat currency has negative existent interest, only a fool wouldn't look elsewhere. Bitcoin is well-nigh as bs as fiat money. The key word is 'almost.'"

Elon Musk's Twitter account has been deemed the catalyst for Dogecoin'due south dramatic recovery from the r/Wallstreetbets-led pump and dump that targeted the meme-coin at the end of Jan, with the billionaire describing DOGE as "the people's crypto."

However, Musk tweeted on Feb. 15 to warn of the heavy concentration of Dogecoin's supply inside the hands of a pocket-size number of whales, offering to pay the summit DOGE holders to void their accounts.