Elon Musk has not been silent about Dogecoin (DOGE), as his latest social media activity has generated a number of harsh responses from his fellow executives.
В new tweetpublished on May 16, praised DOGE's supposed faster speed and environmental friendliness compared to Bitcoin (BTC). This was in response to another DOGE fan, @itsALLrisky, who claimed the Tesla CEO supports the meme-inspired altcoin because it is better than Bitcoin "in many fundamental ways." Musk responded on Twitter:
“Ideally, Doge will speed up block times 10x, increase block size 10x, and reduce fees 100x. Then he wins. "
This announcement has been seen by several high-profile figures in the crypto space. MicroStrategy founder Michael J. Saylor answered:
"The world needs a decentralized, secure, deflationary store of value like #Bitcoin, much more than the more centralized, less secure, and inflationary exchange environment you described above."
Meanwhile, Changpeng Zhao, the founder of Binance, remained less loud and simple писал:
"If the same improvements happened to bitcoin or eth, then ..."
BlockTower Capital founder Ari Paul and Justin Sun, founder of the TRON crypto platform, also responded to Musk's tweet. Paul was particularly supportive of BTC, saidthat it is “not slow or expensive due to technical limitations. It is slow and expensive because priority is given to decentralization and security. "
Elon Musk's other controversies
The CEO of Tesla and SpaceX has already been criticized this week. This particularly follows his announcement that he is suspending the use of BTC as an option for buying Tesla vehicles.
A decision made on the basis of the damage that Mining inflicts on the environment. The subsequent decline in the price of BTC was due to Musk's departure.
In light of Musk's decision, people like global investor Tim Draper have since spoken out in support of BTC. Draper stated in an interview that he believed BTC was the “main predator” of digital currencies. He also mentioned the environmental impact of the current banking system, but suggested that Musk stop accepting fiat currency at Tesla.
In recent weeks, Elon Musk has become famous for raising the price of DOGE, which has grown by almost 20% since January. The altcoin, which was created in 000 as a joke, surged in value every time Musk promoted it on Twitter.
The result was a series of all-time highs, the most recent of which came shortly before the CEO took the lead on Saturday Night Live on May 8.
Although the effectiveness and status of DOGE as a reliable store of value remain a matter of controversy, it is currently ranked as the sixth most valuable cryptocurrency by market capitalization. But no matter what his social media activities have brought DOGE,
Elon Musk is not a favorite of altcoin co-creator Jackson Palmer. By available dataOn May 13, Palmer tweeted the Tesla founder as a "self-centered con man."