Elon Musk Gives Dogecoin Price a Massive Boost: Trillionaire in Doge?

According to a recent forecast, Elon Musk is on his way to becoming the world's first trillionaire. Amusingly, this prediction was corrected by the Tesla CEO and SpaceX founder, noting that he would be a Dogecoin trillionaire.

With that, Elon sent the Dogecoin price soaring again.

As of writing, Musk is still the world's richest man, ahead of former Amazon CEO and Blue Origin founder Jeff Bezos, who is in second place in the Bloomberg Billionaires Index. Musk has an estimated net worth of $252 billion. With his constant accumulation of wealth, analysts from the investment company Morgan Stanley predict that he could become the world's first trillionaire in history.

Elon Musk and Dogecoin

Twitter page @UberFacts also reported the prediction from Morgan Stanley. Surprising the internet community, Musk replied directly to the tweet stating that he would be a trillionaire .. but in Dogecoin.

For background information, Dogecoin is as an open-source cryptocurrency pioneered by Jackson Palmer and Billy Markus in 2013, per Investopedia. The cryptocurrency started as a joke created on the popular meme featuring a Japanese dog breed Shiba Inu.

However, in the summer of 2019, Dogecoin leapt in value along with other crypto markets. Its enthusiasts even became happier when Binance listed the coin. Aside from this, Dogecoin is now being used as a tipping currency for social media content, all while being actively traded by its legion of supporters.

Since Musk likes silly kinds of stuff, he has expressed his admiration and support for Dogecoin on numerous Tweets.

After Musk's latest tweet, the virtual currency soared in value. According to Decrypt, it increased by five percent following the tweet--reaching $0.24 at the time of writing.

Elon Musk Net Worth Prediction With SpaceX

Per The Guardian, Morgan Stanley analyst Adam Jonas stated that Musk has made most of his wealth from his electric car company Tesla, but he could make much more money from his space exploration business SpaceX.

"More than one client has told us if Elon Musk were to become the first trillionaire ... it won't be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world - in any industry," Jonas said.

As reported earlier as well, Musk's potential to earn more is almost limitless through SpaceX's reusable rockets. After all, the said rockers can transport people and cargo to space.

SpaceX and Musk could also sell services like Earth observation hubs, deep-space exploration capabilities and space infrastructure.

It remains to be seen if Musk can truly reach trillionaire status, but with his portfolio of businesses and investments, it is not an impossible feat to achive. Who knows, his Dogecoins might also help him reach that trillionaire status in the near future.

Related Article: Mark Cuban Gives Dogecoin Price a Boost: Why Is Doge Better Than Bitcoin?