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Billionaire Elon Musk Reveals Why He Supports Meme Asset Dogecoin Over Top Crypto Bitcoin

Billionaire Elon Musk reveals why he keeps using the meme asset Dogecoin (DOGE) versus the leading digital asset Bitcoin (BTC) endorsed.
In a new interview on the Full Send Podcast, the business tycoon says that while DOGE started out as a joke, some of its features dwarf what Bitcoin has to offer.

“Frankly, I mostly support Doge. Because I think DOGE has the memes and the dogs and has a sense of humor and doesn’t take itself too seriously.

Oddly enough, even though DOGE was only conceived as this ridiculous joke currency, DOGE’s actual transaction throughput capacity is much higher than Bitcoin’s.

The fact that five billion DOGE are created every year is good to use as transaction currency in my opinion.”

investment tip Billionaire Elon Musk Reveals Why He Supports Meme Asset Dogecoin Over Top Crypto Bitcoin, Crypto Trading News

Musk then gives examples of how DOGE could be used, naming his own companies Tesla and SpaceX as two companies accepting the meme asset for select products.

“You can buy Tesla merch and SpaceX merch with DOGE. You can also pay for the Boring Company rides in Vegas. Boring Company has tunnels under Vegas.”

Musk, a staunch DOGE supporter, previously held his own with his support of the meme asset, despite it being owned by his all-time high plummeted by over 90%.

“I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy and have encouraged me to buy and support Dogecoin, so I am replying to those people, just people who are at SpaceX or Tesla in the factory walk around . They asked me to endorse Dogecoin, so I’m doing it.”

DOGE is changing hands for $0.068 as of this writing, a daily gain of 2.5%.


Featured image: Shutterstock/Elizaveta Boyur/MrArtHit

Source: Crypto News Deutsch

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