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23.12 - 11:27
Dogecoin is better than Bitcoin for payments, Elon Musk declares
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Tesla CEO Elon Musk believes that Bitcoin (BTC) is not that good for everyday payments as the meme-based cryptocurrency, Dogecoin (DOGE).
Musk compared the world’s largest cryptocurrency, Bitcoin, to DOGE in a Time Magazine interview shortly after being named Time’s 2021 Person of the Year.
“Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin, like transactions per day, is much higher potential than Bitcoin,” Musk said.
Tesla CEO emphasized that Bitcoin is more suitable as a store of value, which is why its investors prefer to hold it rather than sell it or use it for payments. “The transaction
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