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Elon Musk Supports Dogecoin, Says It’s More Suitable For Transactions Than Bitcoin

Tesla and Spacex CEO Elon Musk, also the richest person in the world is the Time Magazine’s “Person of the Year” for 2021. Also, in an interview with the magazine, Elon holds discussions on cryptocurrencies bitcoin (BTC) and dogecoin (DOGE).

“For nearly a century, Time has named a Person of the Year…”
“— the individual or group who most shaped the previous 12 months, for better or for worse,”

So, CEO Edward Felsenthal explains.

“Person of the Year is a marker of influence, and few individuals have…”
“had more influence than Musk on life on Earth, and potentially life off Earth too,”

Also, Elon net worth is over $300 billion.

“I played a significant role in creating Paypal so my understanding of the money system…”
“at a fundamental level, how it actually works, the detailed mechanics of it…”
“— I think there’re very few people that understand it better than me,”

Then, Elon adds.

More so, The Tesla CEO, Elon confirms that bitcoin is unsuitable for payments.
“The transaction volume of bitcoin is low and the cost per transaction is high,”

“It is, at least at its base level, suitable for maybe a store of value.”

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