The chief executive officer of electric car producer company Tesla explained why he loves Dogecoin.
Elon Musk is a top richest person in the world and he is also a big fan of cryptocurrencies and blockchain technology. Initially, Elon started to talk about Bitcoin in 2014, at that time he said that Bitcoin can be a good thing. In 2020, Elon supported Dogecoin as an inevitable coin and letter indirectly promoted coin during a Saturday night Live show, which pumped Dogecoin to around $0.8.
On 5 August, Elon Musk appeared in an interview with Full Send Podcast. Through the interview, Elon explained why he loves to promote Dogecoin over Bitcoin or other cryptocurrencies.
Elon said that even though the origin of Dogecoin was a joke , there are still many factors that make it better than other cryptocurrencies.
“I’m mainly supporting Doge frankly. Because I think DOGE has the memes and the dogs, and has a sense of humor and doesn’t take itself too seriously.”
Further, Elon said that Dogecoin was created as a joke but still its throughput capability is very high over the biggest coin Bitcoin.
On the unlimited supply of Dogecoin, which increases every year by 5 billion Dogecoins, Tesla CEO said that it is a good thing and it favours the use of Dogecoin in payment transactions.
Regarding the current use case of Dogecoin, Tesla’s CEO said that Dogecoin can be used to buy some selected products of Tesla and SpaceX.
“You can buy Tesla merch and SpaceX merch with DOGE. You can also pay for Boring Company rides in Vegas. The Boring Company has tunnels under Vegas.”
Earlier this, Elon said in an interview that people wants him (Elon Musk) to support and promote Dogecoin, so he keeps promoting it.
At that time, Elon also responded to the allegations (that he is using his richest popularity wrongly to promote the Dogecoin Ponzi scheme). Elon said that he never suggested or advised anyone to invest in Dogecoin and also said that his investment in any cryptocurrency is a very very small amount of money, in comparison to his net worth.