Robert Steinadler, a month ago

Expensive evidence: Elon Musk is offering 1 million DOGE

Elon Musk is transforming Twitter into “X” the everything app. Once again, he and his plans were all over the media when Twitter announced a partnership that would transform it into a trading desk. But this is not the only news this week. Musk is offering a hefty bounty for anybody who presents him with proof of a story that somehow got perpetuated by the media.

Was Elon Musk the owner of an emerald mine and did his recent statement affect the Dogecoin price?

The proof is worth 1 million DOGE

One of the most widespread stories about Elon Musk is that he owned an emerald mine. Critics often bring this up to point out that Musk was already born rich and had it way easier to build his empire than everybody else.

According to Wikipedia, his father Errol Musk had an interest in an emerald mine in Zambia which means that he was co-owning it. Interestingly enough, his son is disputing this version of the story and is offering a reward of 1 million DOGE reward for anybody that can present proof that the mine ever existed and belonged to Elon or Errol Musk.

It is not clear why Musk is suddenly having a change of heart. In 2014 he brought up the story during a Forbes interview by himself. The interview has been deleted but is still available on the internet archive.

Did he pump the DOGE price?

Some reports argue that Musk’s offer has once again moved the market. However, the whole market is rallying and so does DOGE. This makes it highly unlikely that the market reacted to his tweet and more likely that Dogecoin recovered because of the overall sentiment.

With the current Dogecoin price, we are looking at DOGE worth $88,000 which Elon is offering for presenting the evidence. That’s a very small price considering that Musk is one of the richest people that walk the earth. In December 2022 his title as the richest man in the world was taken by Bernard Arnault and Musk fell behind him.

At the time of writing the reward hasn’t been claimed and Dogecoin is still trading within a range. It remains to be seen if Dogecoin can reach a new yearly high. When Musk changed the Twitter logo to the Shiba Inu meme for a brief time, it had quite an impact on the price. It wouldn’t come as to surprise if he pulls another marketing stunt in favor of the meme coin.

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