{"id":16777,"date":"2022-05-14T18:20:54","date_gmt":"2022-05-14T18:20:54","guid":{"rendered":"http:\/\/egrowonline.com\/?p=16777"},"modified":"2022-05-14T18:20:54","modified_gmt":"2022-05-14T18:20:54","slug":"tesla-ceo-elon-musk-reaffirms-dogecoin-has-potential-as-a-currency-as-twitter-deal-is-put-on-hold-featured-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=16777","title":{"rendered":"Tesla CEO Elon Musk Reaffirms Dogecoin ‘Has Potential as a Currency’ as Twitter Deal Is Put on Hold \u2013 Featured Bitcoin News"},"content":{"rendered":"


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Tesla and Spacex CEO Elon Musk says that dogecoin has potential as a currency. However, his Twitter buyout deal has been put on hold \u201cpending details supporting calculation that spam\/fake accounts do indeed represent less than 5% of users.\u201d
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Elon Musk Says Dogecoin Has Potential as a Currency<\/h2>\n

Tesla CEO Elon Musk has made another bullish statement about the meme cryptocurrency dogecoin (DOGE) despite massive sell-offs across the crypto market.<\/p>\n

Musk affirmed that dogecoin \u201chas potential as a currency.\u201d His tweet was in response to a comment by dogecoin co-creator Billy Markus, who said that the reason he likes the meme cryptocurrency is because \u201cit knows it is stupid.\u201d<\/p>\n

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The Tesla CEO\u2019s tweet reiterated his earlier statement that DOGE is the best crypto for transactions<\/a>. In contrast, he said bitcoin is better suited as a store of value. Musk, who is known in the crypto community as the Dogefather, also said that dogecoin is \u201cthe people\u2019s crypto<\/a>.\u201d<\/p>\n

A longtime supporter of DOGE, Musk tweeted in April 2019: \u201cDogecoin might be my fav cryptocurrency. It\u2019s pretty cool.\u201d The Tesla boss also revealed that he personally owns<\/a> dogecoin in addition to bitcoin and ether.<\/p>\n

Musk\u2019s Twitter Deal Is on Hold<\/h2>\n

The Tesla boss has offered to buy<\/a> Twitter for about $44 billion, which the social media company accepted. Since then, he has been discussing various ways to improve<\/a> the platform.<\/p>\n

However, Musk announced Friday that his Twitter buyout deal has now been put on hold, tweeting:<\/p>\n

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Twitter deal temporarily on hold pending details supporting calculation that spam\/fake accounts do indeed represent less than 5% of users<\/p>\n<\/blockquote>\n

Nonetheless, he added that he is \u201cStill committed to [the] acquisition.\u201d<\/p>\n

One of the biggest problems he\u2019s trying to solve concerns cryptocurrency spam bots. Musk called it the \u201csingle most annoying<\/a> problem on Twitter.\u201d Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, has suggested using dogecoin<\/a> as a solution to solve the Twitter spambot problem. Musk responded by saying it is \u201cnot a bad idea.\u201d He also indicated that dogecoin might be accepted for the Twitter Blue<\/a> service.<\/p>\n

What do you think about Elon Musk\u2019s dogecoin comment and his Twitter deal being put on hold? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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