I recently spoke with Elon Musk during an interview with ARK Invest, and he shared some insights into why he’s been a long-time supporter of Dogecoin. He discussed how his past comments actually played a significant role in turning Dogecoin from a simple internet meme into the well-known cryptocurrency it is today.
Elon Musk shared his thoughts on July 22, 2021, during an event with ARK Invest. He predicted that the most likely scenario is the most amusing one, playfully suggesting that a cryptocurrency initially created as a joke could surprisingly become a leading digital currency.
His comments played a major role in shaping the story of meme coins and helped fuel the huge surge in popularity of Dogecoin during the 2021 bull market.
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“The most entertaining outcome”
Musk explained that he was drawn to Dogecoin largely because of its unique community and the culture surrounding it.
Musk described the Dogecoin community as playful and full of great memes, with a shared love for dogs – qualities he personally appreciates. He also noted that the community doesn’t take itself too seriously.
He linked the concept to established philosophical ideas like Occam’s Razor, then shared his own unique perspective on it.
Musk believes the most ironic scenario is also the most probable. He adds that, similarly, the most amusing outcome is also what we should expect.
Elon Musk shared his thoughts on Dogecoin during a discussion with ARK Invest on July 22, 2021. He expressed that he thinks the funniest possible result – Dogecoin becoming a major cryptocurrency – is also the most probable one.
— Wu Blockchain (@WuBlockchain) May 15, 2026
Musk believes it would be incredibly ironic if a cryptocurrency created as a joke ended up becoming the most important one.
Musk’s influence on Dogecoin and meme coins
Elon Musk’s public statements about Dogecoin were key in making meme coins a common topic in the world of finance.
During the height of its popularity in 2021, his posts on Twitter, interviews, and TV appearances often caused significant price changes in DOGE, and contributed to the lasting popularity of meme coins in the cryptocurrency world.
His remarks helped fuel a new kind of trading, where people were more influenced by online communities, funny memes, and popular stories than by traditional financial analysis.
Even though the cryptocurrency world has changed a lot, Elon Musk is still a major public figure linked to Dogecoin and the broader trend of meme coins.
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2026-05-16 12:44