Tesla ($TSLA@US) CEO, Elon Musk, a well-known Bitcoin bull, and Dogecoin influencer, recently made light of the NFT market and how he believes prices are overinflated. In response to a tweet from Dogecoin co-founder, Billy Markus, Musk said that NFTs are “jpeging the dollar.” Viewers are reminded that Musk once turned down $69 million for an NFT of a song he wrote about NFTs, instead of asking for 420 million Dogecoins. Right now, NFTs are the hottest trend on the crypto market, funneling cash into the crypto market when the global market cap is slipping and apex tokens are stumbling. At press time, Tesla shares were trading nearly 2% higher, sitting at almost $976 per share. Meanwhile, the “jpeged” dollar index fell just over half a percent to 95.97.
