Tesla and Spacex CEO Elon Musk says dogecoin has potential as a currency. However, its plan to take up Twitter has been suspended “pending support for the calculation that spam / fake accounts represent less than 5% of users”.
Elon Musk says Dogecoin has potential as a currency
Tesla CEO Elon Musk has made another exciting statement about meme cryptocurrency dogecoin (DOGE) despite huge sales in the crypto market.
Musk claimed that dogecoin “has the potential as a currency.” His tweet was in response to comments from cogecoin co-creator Billy Markus, who said the reason he liked the cryptocurrency meme was because “he knows it’s dumb.”
Tesla CEO’s tweet echoed his earlier statement that DOGE was the best way to conduct transactions. In comparison, he said bitcoin is more suitable as a value store. Musk, who is known in the crypto community as the Dogefather, also said dogecoin is a “people’s crypto”.
A long-time DOGE supporter, Musk tweeted in April 2019, “Dogecoin may be my favorite cryptocurrency. It’s very cool.” Tesla boss also revealed that he personally owns dogecoin as well as bitcoin and ether.
Musk’s Twitter program has been suspended
The Tesla boss offered to buy Twitter for nearly $ 44 billion, which the social media company accepted. Since then, he has discussed various ways to improve the platform.
However, Musk announced Friday that his plan to take to Twitter had been suspended, tweeting:
The Twitter deal has been temporarily suspended pending a statement supporting the calculation that spam / fake accounts represent less than 5% of users.
However, he added that he is “always determined [the] availability. “
One of the biggest problems it tries to solve is cryptocurrency spambots. Musk called it “the most annoying issue on Twitter.” Shark Tank star and NBA Dallas Mavericks owner Mark Cuban has suggested using dogecoin as a solution to the spambot problem on Twitter. Musk responded by saying “it’s not a bad idea”. He also pointed out that dogecoin could be accepted for the Twitter Blue service.
What do you think of Elon Musk’s view of dogecoin and the suspension of the Twitter program? Let us know in the comments section below.
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