Elon Musk removes bitcoin from his Twitter bio, endorses Dogecoin

Tesla CEO Elon Musk has removed bitcoin from his Twitter bio, which he added last week.

Musk then went on to post a series of Dogecoin-related tweets, yet again. Musk tweeted, 'Doge' and then minutes later, he wrote: "Dogecoin is the people's crypto."

"No highs, no lows, only Doge," he wrote in a separate tweet.

The Musk support has led to a surge in Dogecoin's price by about 37% within minutes. The coin is currently trading at around $0.05, according to TradingView. 

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Musk, the world's richest man, has previously tweeted about Dogecoin several times. Earlier this week, he said he "occasionally" makes "jokes about Dogecoin."

"They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I'd say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future," he said at the time.

Meanwhile, for bitcoin, he said at the time: "I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people."

Bitcoin is currently trading down by about 1% at around $37,400, according to TradingView.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.