Elon Musk, the world's richest man, has lost a lot of money in the cryptocurrency bitcoin crash, but that hasn't stopped him from buying virtual currencies.

At 2:19 am local time on June 19, Musk tweeted that he would continue to support Dogecoin. "We are buying."

Notably, bitcoin recently fell below the $18,000 mark, its lowest price since December 2020. Currently, Tesla has 43,200 tokens, making it the second largest bitcoin holder. The loss is more than $700 million, compared with the $1.5 billion tesla spent on bitcoin in early 2021.

In January 2022, Musk announced dogecoin payment support for Tesla merchandise. "Cyberwhistle whistle", "Cyberquad for Kids motorcycle" and "Giga Texas Belt Buckle" are available for payment in Dogecoin on Tesla's North American website. Then, on June 18, Musk tweeted again that "maybe more will support Dogecoin" from Tesla and SpaceX merchandise.