Elon Musk Shows Support For Dogecoin Once Again

CEO of American electric vehicle manufacturer Tesla, Elon Musk, has repeated his support for meme-based cryptocurrency Dogecoin (DOGE).

In a recent interview, Musk said Dogecoin is better than Bitcoin (BTC) in making payments because “The total transaction capability of Dogecoin is much higher than Bitcoin.”

Despite the fact that DOGE was initially introduced as a parody cryptocurrency in 2013, Musk claimed that the token has a lot of promise, particularly when it is utilised for payments.

Musk has been backing words with action regarding DOGE’s payments capabilities.

Including Tesla and SpaceX, Musk has expanded support for Dogecoin across all of his companies.

The well-known cryptocurrency may be used to buy products from Tesla and SpaceX.

Musk wants Dogecoin to become the "money of the internet" in the long run.

The co-founder of Robinhood Markets, Vladimir Tenev, gave his perspectives on how Dogecoin may develop as the internet's reserve currency earlier this year.

The tips shared by Tenev prompted a reaction from Musk, who called on the attention of Dogecoin’s co-creator Billy Marcus.