A popular Bitcoin advocate Roger Verrecently commented on Elon Musk’s acquisition of Twitter, stating that Dogecoin is superior to Bitcoin.
Roger Ver, who is also a closely followed analyst in the crypto world, is also known as “Bitcoin Jesus” in the crypto community. The analyst announced that he was returning to social media with a post he shared recently. Dogecoin (DOGE) renewed his thoughts on According to the analyst, the acquisition of Twitter by Elon Musk, also known as the DOGE advocate, could have a very positive effect on Dogecoin.
Ver thinks Musk supports Twitter’s decision and DOGE can be quite useful on Twitter. Interestingly, Ver shared that he believes Dogecoin is superior to Bitcoin and other cryptocurrencies. Ver argues that if ordinary people use custodial wallets, Bitcoin will lose its only important feature that has revolutionized it, privacy.
If regular people are all using custodial wallets, Bitcoin will have lost a key property that made it so revolutionary.
— Roger Ver (@rogerkver) April 28, 2022
This is a superior feature of Dogecoin that will offer users and investors greater utility, decentralization and ease of use compared to other crypto assets. According to Ver, custodial wallets violate privacy policy.
Most centralized exchanges and custodian wallets are built in a way that requires user authentication, violating the principle that separates Bitcoin from other cryptocurrencies. For these reasons, Ver shifted its focus from Bitcoin to Dogecoin and Bitcoin Cash.
The analyst and trader, known in the crypto world under the pseudonym Altcoin Sherpa, believes that the Dogecoin price rally is not sustainable. The analyst’s view is that strong retail participation near the end of a cycle is the ideal time for a DOGE price rally.
$DOGE: Im not expecting a sustained DOGE rally for a bit. IMO the dog coin usually goes strongly when retail starts to pile in, marking close to the end of a cycle. That said, Elon Musk buying Twitter might create some interesting trade opportunities (ie. yesterday). #dogcoin pic.twitter.com/8kMyAMeVjL
— Altcoin Sherpa (@AltcoinSherpa) April 27, 2022
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.