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Elon Musk: “I promote Dogecoin for the sake of Tesla and SpaceX employees”

The American billionaire, founder of Tesla and SpaceX, announced that he would continue to promote the Dogecoin meme-coin, as he promised to do so to his workers.

Elon Musk said in an interview that Tesla and SpaceX employees asked him to support the meme-currency, and he agreed to do it for them:

“I intend to personally support Dogecoin as there are many poor people around me who encouraged me to buy and support DOGE.”

The head of Tesla and SpaceX believes that if this cryptocurrency is accepted as a global means of payment, the whole world will benefit greatly. The initiative to accept the meme coin as payment for some Tesla products is his personal contribution to achieving the goal, Musk assured. In his opinion, Dogecoin is better than Bitcoin in terms of transactional value:

“BTC transaction value is low and transaction cost is high. At least on a cosmic level, it is suitable as a store of value. But, in essence, Bitcoin is not a good replacement for a transactional currency. Even though Dogecoin was created as a dumb joke, it is better suited for transactions.”

In April, crypto expert and CryptoLaw project host John Deaton warned Elon Musk that the promotion of DOGE could convince US authorities that this asset is a security managed by his, Musk, companies. In February, the billionaire called bitcoin a risky asset, and his company Tesla’s purchase of BTC allegedly did not depend on Musk’s decision. At the same time, in January, he changed the description of his Twitter profile to one word: bitcoin. After that, Bitcoin rose by 20% and returned to $37,000.

Source: Bits

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