Elon Musk says that Bitcoin is suitable as a value preservation means, Dogecoin for transactions because the time for the person of the year chose him -
Elon Musk says that Bitcoin is suitable as a value preservation means, Dogecoin for transactions because the time for the person of the year chose him -
Tesla CEO Elon Musk, which was named person of the year by Time Magazine, says that Bitcoin is suitable as a value preservation means, while the meme cryptocurrency Doctro-Ferry is more suitable for transactions. "Although it was created as a siller joke, Dogecoin is better suited for transactions," said Musk.
The person of the year of Time Magazine says that Bitcoin is suitable as a value preservation means, Dogecoin for transactions
Elon Musk, CEO of Tesla and SpaceX, the richest person in the world, was elected “Person of the Year” for 2021 by Time Magazine. During an interview with the magazine published on Monday, Musk spoke about cryptocurrencies Bitcoin ( btc ) and Dogeco (Doge).
"Time has been named the person of the year for almost a century - the person or group that has shaped the most for the last 12 months in good or bad," explained CEO Edward Felsenthal. "The person of the year is a marker of influence, and only a few people had more influence on life on earth and possibly also on life outside of the earth," he added. Musk's net assets are more than $ 300 billion.
"I played an important role in the development of PayPal, so I have my basic understanding of the monetary system, its actual functioning and the detailed mechanisms - I think there are only a few people who understand it better," Musk.
The Tesla CEO suggested that Bitcoin were unsuitable for payments. "Bitcoin's transaction volume is low and the costs per transaction high," he said and emphasized:
it is, at least on the basis of it, perhaps suitable for storage.
While Musk repeated that "Bitcoin is basically not a good replacement for transaction currency," he continued to talk about Dogecoin (Doge).
The Tesla boss has long been a supporter of the meme cryptocurrency. He is even known as a Dogefather in the crypto community. Previously, he announced that he personally has Dogecoin, Bitcoin and Ether. His companies-Tesla and SpaceX-, on the other hand, only your own bitcoin .
The Tesla Technoking said in an interview with the time magazine:
Although it was created as a silly joke, Dogecoin is better suited for transactions.
The CEO of Tesla and SpaceX continued about Dogecoin. "It is slightly inflationary, but this inflationary number is a fixed number and not a percentage," he said. "This means that the percentage inflation actually decreases over time, and that is actually good because it encourages people to spend money instead of hoarding it as a value stimulant."
Musk previously explained that he was a dog as the The crypto of the people which he speaks at Tesla has Dogecoin. In August he agreed with Shark Tank Star Mark Cuban, the owner of the NBA team Dalla's Mavericks href = "https://news.Bitcoin.com/elon-musk-mark-cuban-strongecoin-strongest-cryptocurrency-payments/" Rel = "noopener"> The strongest when it comes to using it as a exchange. "
Do you agree to Elon Musk regarding Bitcoin and Dogecoin? What do you think that he is the person of the year of Time Magazine? Let us know in the comment area below.
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