Tesla CEO Elon Musk has repeated that Dogecoin satisfies the payment characteristics of a cryptocurrency better than any other cryptocurrency.
He channeled fellow billionaire Mark Cuban in a recent tweet, telling CNBC Make It that the meme cryptocurrency is the “strongest” means of trade because to its community: When it comes to utilizing Doge as a means of trade, the community is the strongest.
Promoting merchant adoption of Dogecoin
The Dallas Mavericks basketball club, which Cuban bought in 2000 for $285 million, began taking Dogecoin in March for tickets and merchandise. To encourage fans to use Dogecoin as a payment method, Cuban revealed earlier this week that individuals who purchase with the meme currency would get preferential pricing during the Mavs’ summer retail sale.
While many lament Dogecoin’s unlimited supply, the entrepreneur views it as a major benefit since it enables it to become a viable payment mechanism. At the same time, Cuban sees Bitcoin as pure digital gold, owing to its hard-capped quantity of 21 million units.
Musk is also promoting merchant acceptance of Dogecoin. According to U.Today, SpaceX was compensated entirely in Bitcoin parodies for launching a lunar mission dubbed “‘DOGE-1” next year. In the early months of May. Musk also conducted a Twitter poll to determine if Tesla should adopt the satirical coin.
Shortly thereafter, the e-car maker stopped Bitcoin payments owing to climate-related worries, but the billionaire subsequently said that the functionality will “most certainly” be restored.
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