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Tesla CEO Elon Musk Reaffirms Dogecoin ‘Has Potential as a Currency’ as Twitter Deal Is Put on Hold

News Feed - 2022-05-14 10:05:00

Tesla CEO Elon Musk Reaffirms Dogecoin "Has Potential as a Currency" as Twitter Deal Is Put on Hold


Tesla and Spacex CEO Elon Musk says that dogecoin has potential as a currency. However, his Twitter buyout deal has been put on hold “pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.” Elon Musk Says Dogecoin Has Potential as a Currency


Tesla CEO Elon Musk has made another bullish statement about the meme cryptocurrency dogecoin (DOGE) despite massive sell-offs across the crypto market.


Musk affirmed that dogecoin “has potential as a currency.” His tweet was in response to a comment by dogecoin co-creator Billy Markus, who said that the reason he likes the meme cryptocurrency is because “it knows it is stupid.”



The Tesla CEO’s tweet reiterated his earlier statement that DOGE is the best crypto for transactions. In contrast, he said bitcoin is better suited as a store of value. Musk, who is known in the crypto community as the Dogefather, also said that dogecoin is “the people’s crypto.”


A longtime supporter of DOGE, Musk tweeted in April 2019: “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” The Tesla boss also revealed that he personally owns dogecoin in addition to bitcoin and ether. Musk’s Twitter Deal Is on Hold


The Tesla boss has offered to buy Twitter for about $44 billion, which the social media company accepted. Since then, he has been discussing various ways to improve the platform.


However, Musk announced Friday that his Twitter buyout deal has now been put on hold, tweeting: Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users


Nonetheless, he added that he is “Still committed to [the] acquisition.”


One of the biggest problems he’s trying to solve concerns cryptocurrency spam bots. Musk called it the “single most annoying problem on Twitter.” Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, has suggested using dogecoin as a solution to solve the Twitter spambot problem. Musk responded by saying it is “not a bad idea.” He also indicated that dogecoin might be accepted for the Twitter Blue service. Tags in this story Bitcoin, Crypto, Cryptocurrency, Doge, doge currency, dogecoin, dogecoin currency, Elon Musk, elon musk doge, elon musk dogecoin


What do you think about Elon Musk’s dogecoin comment and his Twitter deal being put on hold? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Report: UAE"s Emirates Airline Set to Use "Bitcoin as a Payment Service" FEATURED | 1 day ago Blackrock, Citadel, Gemini Deny Involvement in Terra Collapse FEATURED | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCentral Bank of Chile Studies Issuance of a Digital Currency Next articleVeteran Investor Mark Mobius Expects Bitcoin to Fall Further — Cautions Crypto Traders Against Buying the Dip Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


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