Elon Musk spoke very ambiguously about bitcoin, thereby supporting his favorite cryptocurrency dogecoin. Musk believes that Bitcoin has become a financial tool for rich gentlemen, and Dogecoin is a popular cryptocurrency that is available to everyone with convenient and simple transactions.
The tech king responded in his trademark style to former Twitter CEO Jack Dorsey, as always, with his caustic phrase.
Musk wrote that Bitcoin gives power to new rich people, and he also agrees with the creator and father of dogecoin, Billy Marcus, that Dogecoin is a means for everyone on this planet.
This month, Tesla has already made ambiguous hints, and the company also announced that dogecoin will be added as a payment method for branded merchandise from the giant corporation.
After that, Elon Musk and the company will look at the outcome, and as a result, they will make decisions about whether they will add dogecoin as payment for cars.
Musk believes that Bitcoin is an accumulative means for accumulating and saving one's income, as well as a means of power.
Dogecoin is an everyday coin for everyone. In a recent interview with Time magazine, Elon Musk stated that dogecoin dominates Bitcoin, and it is also much closer to the people and easier to use, it is much better adapted for conducting transactions.
Musk noticed that the transaction value of bitcoin continues to be high, although the volume of daily transactions is significantly reduced. He says Bitcoin will never be a 100% great replacement for fiat. Dogecoin, being created as a humorous meme, becomes a truly popular means of payment.
Musk also noted that although dogecoin is essentially a cryptocurrency that is not adapted for storage, but encourages investors to spend money, all indicators and on-chain indicators show that investors prefer to keep dogecoin for a long time rather than spend it. Elon Musk is sure that Dogecoin has a lot of advantages over the dollar since fiat can be subject to huge inflation.
He may also be dependent on the government, whatever it may be. Dogecoin remains the same people's currency, no matter who will be at the helm, Democrats or Republicans, but the dollar is in great doubt.
