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Elon Musk says Dogecoin better suited for transactions than Bitcoin in TIME interview

Hassan Maishera - Cryptowisser
2021-12-14 14:42
Tesla CEO Elon Musk believes that Dogecoin is better suited for everyday payments than Bitcoin. Musk said this during a TIME Magazine interview after he was named Time’s 2021 Person of the Year.
“Fundamentally, Bitcoin is not a good substitute for transactional currency. Even it though it was created as a silly joke, Dogecoin is better suited for transactions,” Musk said.
“The total transaction flow that you can do with Dogecoin is substantially - transactions per day - has much higher potential than Bitcoin,” Musk said, adding that Dogecoin is slightly inflationary but that inflationary number is a fixed number as opposed to a percentage.
“So that means that its percentage inflation actually decreases, and that’s a good thing because it encourages people to spend rather than hoard it as a store of value.”
Musk tweeted a few hours ago that Tesla would begin accepting payments in Dogecoin for some of the company's merchandise.
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