cryptocurrency

Elon Musk shows more love for Dogecoin

The love affair between Elon Musk and Dogecoin continues. Despite the slump in cryptocurrency prices and a market that has never been more uncertain, Musk has been. Appeared in recent days To say that Dogecoin is the only digital currency that is really worth anything and that the coin doesn’t take itself “too seriously”. He also praised “the outcome of transactions”.

Elon Musk and Dogecoin: A Match Made in Digital Heaven

Musk was more fair to the Doji than to assets like bitcoin, for example. About a year and a half ago, he shocked the world when he announced that he was adding nearly $1.5 billion in BTC funds to Tesla’s balance sheet. Things didn’t stop there when he said he would allow crypto holders to buy Tesla cars with their assets if they so desired. However, this was short-lived as Musk raised concerns about the source of bitcoin’s mining power and how much it could be used.

That’s why, a few weeks after the initial announcement, Musk eliminated opportunities for bitcoin holders to own electric cars. In addition, a significant portion of the initial $1.5 billion purchase was sold out, as Musk cannot overlook the ongoing cryptocurrency price fluctuations in the market.

Meanwhile, Dougie continues to strike the strings with the billionaire businessman. He said in a recent interview:

I basically support Dougie, frankly, because I think Dougie has memes and dogs and seems to have a good sense of humor and doesn’t take himself too seriously.

He further stated that he believes the Doji can eventually “beat bitcoin”. He said:

I actually think, oddly enough, that even though Doge was designed to be such a ridiculous joke currency, Doge’s total transaction throughput is much higher than Bitcoin.

Dogecoin initially started as a joke – a coin memes that used a cute little Shiba Inu dog as its talisman. For whatever reason, the coin has truly sung to a wide range of cryptocurrency investors who may have taken it more seriously than intended. Since then, it has risen above a market valuation of $1 billion, and while its price is nothing to shout about, the coin appears to be making its way into many crypto investor portfolios.

Not everyone is happy

At the time of writing, Doge – along with many other digital assets – has been experiencing constant volatility and a cryptocurrency crash that began nearly nine months ago. The price has fallen to new lows, and this has led to a new class action lawsuit against Musk, with many traders saying they fell for his advertising and promotions of the coin and invested what they didn’t clearly have in the speculative currency.

Musk defended himself by saying that he never forced anyone to put their money into the Doji.

Tags: Dogecoin, Elon Musk, Tesla

#Elon #Musk #shows #love #Dogecoin

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button