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Elon Musk praised Dogecoin, says it is better than Bitcoin for transactions

With Hannah Perez

Elon Musk gave a 3 hour interview and just talked about it Dogecoin for a minute: here’s what he had to say about his favorite memecoin.

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  • Musk said that Doge is better than Bitcoin for payments.
  • He proposed the memecoin, but did not spend much time on the topic.
  • Is Dogecoin Missing the “Musk Effect”?

Billionaire Elon Musk has once again expressed his fanaticism publicly Dogecoin (DOGE), the very popular cryptocurrency doggy meme that he talks about often. This time during an interview for the podcast Full Launch Podcast.

Many topics were discussed during the conversation with the host of the show, Kyle Forgeard, and his friends who were with him, and DOGE was one of them. Like other opportunities, Musk proposed the meme coin, which he admitted that it is his favorite because “designed to be a ridiculous crypto joke“.

Chief executive said Tesla y SpaceX he emphasized the potential of the Dogecoin saying it has more transaction capacity than Bitcoin, its predecessor and the leading digital asset by market capitalization. When his interviewer asked him about his perspective on the cryptocurrency market, Musk focused entirely on his favorite memecoin.

I’m totally rooting for Doge for the most part, because I think Doge has the memes and the dogs and seems to have a sense of humor and doesn’t take himself too seriously. I think it’s really strange, although Doge was designed to be like this ridiculous joke coin, but the actual total transaction throughput capacity of Doge is much higher than Bitcoin.

Dogecoin is better than Bitcoin

The world’s richest man cited several features to support his view, including the memecoin’s inflationary design, which is designed to have an unlimited supply over time, and an annual cap of 5 billion coins. On the contrary, Bitcoin it has a limited supply of 21 million coins, which represents its maximum supply.

It is a good thing that five billion dollars are created every year as a transactional currencycomment on Dogecoin.

Although he did not mention them, there are other aspects of the design of the Doge it can be positioned as a better payment system in relation to its counterpart, such as the number of transactions per time. The confirmed times Dogecoin processing around 33 transactions per second (TPS), which is much faster than average Bitcoin from 7 GST.

For Musk these advantages can favor Dogecoin in terms of acceptance as a means of payment. The businessman revealed in this regard that three of his companies accept the memecoin. He indicated that it is Tesla y SpaceX already incorporated among the payment options to purchase merchandise, and that your company The Bored Company it also recently started accepting it for travel payments.

¿Doge react less and less to Musk?

Interestingly, Musk has spoken very little about it Dogeconsidering that the interview lasted about 3 hours, and that only about a minute was dedicated to the memecoin. Could it be that doggy cryptocurrency is not on your mind as much as you can sometimes believe from your Twitter account?

The businessman, who admitted his huge influence on social media during the interview, often takes to Twitter to talk about Dogecoinwhich on various occasions caused sudden movements in the price of that asset.

In December 2021, the self announced “Father Dogeannounced in a tweet What Tesla would start to take sign canine as a payment mechanism, which at that time drew the price on Dogecoin more than 20%. The effect was repeated a few months later when the deal was officially confirmed in early 2022.

Interestingly, however, his latest comments on the coin do not seem to have the same effect, and the sign like being indifferent. Last month, it was announced adopted by his underground travel company in Las Vegas it hardly caused a reaction in the price of DOGE. Later, the revelation that Tesla holds the memecoin It didn’t affect the prices much either. Likewise, his comments in this week’s interview don’t seem to have affected the market either.

Crypto Markets

Musk touched on a number of topics during his appearance on the podcast, including trips to Mars, climate change, the future of humanity, his favorite video games; and, of course, the robotsSpam and crypto scams that proliferate i Twitter and that they are now the central focus of the dispute over the acquisition of that company.


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Article by Hannah Estefanía Pérez / DailyBitcoin

A picture of Stock photos edited in Canva

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. It may not be suitable for retail investors as the entire amount invested may be lost. Check your country’s laws before you invest.

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