Elon Musk, who was named “person of the year” by Time Magazine, said that Dogecoin is more suitable for transactions than Bitcoin and talked about the differences between them.
It was previously selected by Time Magazine in 1999 for Jeff Bezos, the founder of Amazon, and Marc Zuckerberg, the founder of Facebook, in 2010. Elon Musk was awarded the title of “person of the year” this year.
Elon Musk explained the differences between Dogecoin and Bitcoin in a recent interview with Time Magazine:
Bitcoin has low transaction volume and transaction costs are high. It is mainly suitable as a store of value. However, Bitcoin is not a suitable currency for transactions.
of dogecoin “somewhat” inflationary that, but Inflation fell over time. said Musk:
It encourages people to spend rather than use it as a store of value.
said.
Musk started the meme coin trend with a single tweet he shared this year. It also appeared as a joke parody of Bitcoin. of Dogecoin, one of the most valuable cryptocurrencies to be provided.
Tesla company owned by Elon Musk, $1.5 billion bitcoin purchase and announced that it accepts bitcoin as a means of payment for Tesla purchases. He then manipulated the crypto market by announcing that he was giving up using bitcoin.
