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
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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Fortnite developer Epic Games raises $2 billion to build for the metaverseRead More..
Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..