Elon Musk advocates Dogecoin as a potential currency
Musk's latest statement comes in response to a tweet by Dogecoin co-founder Billy Markus
By Shashank Bhardwaj
Image: Shutterstock
Billionaire Elon Musk is a huge advocate of Dogecoin. On Friday, May 13th, he said in a tweet that the crypto token DOGE has immense potential as a fiat currency, in reply to Dogecoin co-founder Billy Markus’s tweet, which said, “the reason i like dogecoin is because it knows it is stupid”.
Dogecoin, which began as a meme coin, has seen its value increase several times since its inception, with Elon Musk as its most vocal supporter. A self-proclaimed Dogefather, Musk has promoted Dogecoin multiple times over the last year, causing the coin to rise in value.
Apart from being a "joke" and "meme coin," Dogecoin was created as a peer-to-peer digital currency that could reach a wider range of people than Bitcoin. And Elon Musk, a proponent of Bitcoin and other meme tokens such as Shiba Inu, sees the Dogecoin as having such potential. "Fate loves irony," he previously told TMZ in an interview.
"Dogecoin was invented as a joke, essentially to make fun of cryptocurrency. What would be the most ironic outcome? The currency that started as a joke in fact becomes the real currency. To the moon!"

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