Dogecoin Receives More Love & Support from Elon Musk

by Eva Fox August 06, 2022

Dogecoin Receives More Love & Support from Elon Musk

Tesla and SpaceX CEO Elon Musk once again showed his love and support for Dogecoin during his recent appearance on the Full Send podcast. The cryptocurrency, conceived as a joke, has huge potential to become an excellent means of payment.

Tesla & SpaceX CEO Elon Musk recently joined the Full Send podcast, where he talked about many things in an easy and relaxed atmosphere full of positivity and jokes. One of the topics was Dogecoin, which has long been one of his favorites. “I'm mainly supporting Doge, frankly,” Musk replied to a question about cryptocurrencies.

First of all, this cryptocurrency attracted his attention for having memes that Musk loves and dogs that he loves too, of which he owns three. Even though Dogecoin was conceived as a “ridiculous joke currency,” it has become really useful, Musk said. He noted that the transaction capabilities of Dogecoin are higher than those of Bitcoin. Also, the fact that Dogecoin is inflationary is actually a good thing because the coin can become a viable transactional currency. Instead of hoarding coins in anticipation of a price increase, users can spend them in real life.

Musk has repeatedly voiced his support for Doge and has even implemented payment in cryptocurrency at his companies. Tesla started accepting Dogecoin as payment for some merchandise in January 2022. SpaceX implemented the same approach in May. Also in June, the Boring Company added support for payments in Dogecoin for rides.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter








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