Elon Musk announced on Monday that he owns Bitcoin, Ether, and Dogecoin and will not sell them, giving the digital tokens a boost.
Bitcoin, which had plummeted as much as 2.9 percent as a result of Musk’s post, quickly recoup its losses before retreating again. Meanwhile, Ethereum made a brief comeback before retreating once more. Dogecoin has gained 3.8 percent in the last hour among the cryptocurrencies tracked on Binance.
Musk is the richest man on the planet and the CEO of Tesla Inc. On social media, he constantly discusses cryptocurrency.
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