Some Elon Musk followers do expect him to help make Dogecoin a default global currency—but the available reporting identifies a segment, not a measured majority of his fans. A widely cited 71% figure comes from a plaintiff’s account of a 2021 online poll, not a representative survey. Neither that poll nor Musk’s ambitions establish that Dogecoin is on track to become a practical currency for everyday life.
What the report says Musk’s fans believe
A February 2025 Ars Technica report by Ashley Belanger describes sociologist Dominik Zelinsky’s analysis of two years of Musk social-media posts. The analysis identified a group of Musk followers who see him as a potential cryptocurrency kingmaker and expect Dogecoin to become the default “currency of Earth.”
That finding describes a subgroup, not the prevalence of the belief among Musk’s entire following. The report supplies no representative estimate of how many fans hold it. The headline’s wording should therefore be read as a description of a real, reported sentiment—not proof that Musk fans generally believe Dogecoin will become a global currency.
Where the “71%” Dogecoin poll figure comes from
The number traces to a June 2022 lawsuit complaint, which alleges that Musk posted a poll on February 5, 2021, asking about the “future currency of Earth.” The filing says 71% of respondents selected Dogecoin over all other cryptocurrencies combined. That is the plaintiffs’ account of a social-media poll, not an independently verified result or a representative survey of Musk fans. It cannot establish how widespread the belief is, much less how many people would actually use Dogecoin to pay for things.
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The distinction matters: a poll about a hypothetical choice is not evidence of adoption. It does not show that respondents bought or spent Dogecoin, or that merchants accepted it.
What the lawsuit dismissal did—and did not—decide
In August 2024, U.S. District Judge Alvin Hellerstein dismissed the investor lawsuit against Musk with prejudice. Reuters reported that the judge characterized the currency-of-Earth statements as “aspirational and puffery, not factual and susceptible to being falsified,” and concluded that no reasonable investor could rely on them for a securities-fraud claim.
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That ruling addressed the claims in that lawsuit. It was not a finding that Dogecoin could never be useful, and it did not adjudicate every claim anyone might make about the cryptocurrency. It also does not turn Musk’s aspirational statements into evidence that Dogecoin will become a widely used payment method.
Community activity is different from proof of broad adoption
The Ars report also presents a counterpoint to the idea that Dogecoin’s activity began with Musk’s endorsements. Dogecoin Foundation director Timothy Stebbing told Ars that the currency had an active community beforehand, with people using it for small transactions, tipping, and paying artists and musicians. That describes reported uses within a community; it does not establish widespread everyday use.
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Stebbing also said the foundation had struck deals with large brands and predicted in an ecosystem report: “We believe 2025 will see the largest growth in utility and adoption to date.” The report does not name the brands, confirm that deals were completed, or provide measurable adoption results. The statement is a forecast attributed to Stebbing, not evidence that the predicted growth occurred.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why attention and utility are not the same thing
Musk’s public attention can help explain why some followers connect his influence with Dogecoin’s future. But a prominent supporter’s reach, a community’s enthusiasm, and the ability to make payments are separate things. A cryptocurrency can attract attention or support small-scale uses without becoming a reliable or widely accepted way to pay for goods and services.
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The SEC Division of Corporation Finance’s February 27, 2025 staff statement says meme coins are typically driven primarily by demand and speculation, tend to be volatile, and often have limited or no functionality. Those general characteristics help explain why belief in a coin’s potential is not the same as demonstrated payment utility. The statement is staff guidance—not an SEC rule or regulation, and it has no legal force or effect. Its analysis does not resolve the status of every coin or transaction.
Quick Recap
What to take away as a personal-finance reader
- The belief is reported, but its prevalence is unknown. The Ars article identifies a segment of Musk followers who anticipate a major role for Dogecoin; it does not measure how common that view is across all fans.
- The poll figure has a narrow provenance. The 71% number is alleged in a plaintiff’s complaint about a 2021 poll, not a population statistic or proof of future use.
- Plans and predictions are not results. The reported brand deals and adoption forecast do not establish named, completed partnerships or measurable growth.
- Speculative attention carries no guarantee of currency status. The SEC staff statement describes risks common to meme coins, while making clear that it is not binding law and does not settle every case.
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