Billionaire Elon Musk is unveiling why he continues to advocate meme asset Dogecoin (DOGE) over the leading digital asset Bitcoin (BTC).
In a new interview on Full Send Podcast, the business magnate says that even though DOGE started out as a joke, some of its features outshine what Bitcoin has to offer.
“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.
Weirdly, even though DOGE was just designed to be this ridiculous joke currency, the actual transactional throughput capability of DOGE is much higher than Bitcoin.
The fact that there’s five billion DOGE created every year is actually I think good for using it as a transaction currency.”
Musk then goes on to give examples of how DOGE could be used, citing his own businesses Tesla and SpaceX, as two firms that accept the meme asset for select products.
“You can buy Tesla merch and SpaceX merch with DOGE. You can also pay for Boring Company rides in Vegas. Boring Company has tunnels under Vegas.”
Musk, a DOGE stalwart, previously stood his ground on his support of the meme asset despite it plummeting over 90% from its all-time high.
“I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin, so I’m responding to those people, just people that walk around the factory at SpaceX or Tesla. They’ve asked me to support Dogecoin so I’m doing so.”
DOGE is changing hands for $0.068 at time of writing, a 2.5% gain on the day.
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Elizaveta Boyur/MrArtHit