Why Elon Musk Believes Dogecoin is the Future 🌟🚀
Elon Musk recently shared why he believes Dogecoin could outshine Bitcoin in the long run.
While Dogecoin was originally created as a joke, Musk sees real value in it.
He highlights that Dogecoin’s transaction speeds are much faster and its fees are significantly lower than Bitcoin’s, making it more practical for daily use. 💸
Musk also explains that Bitcoin’s transaction fees are high, making it difficult to use for small transactions.
When Bitcoin was launched in 2008, it was adapted to the slower internet speeds of that time. But in today's world, Bitcoin's infrastructure feels outdated. 🌍
One of the major advantages of Dogecoin is its inflation model.
Unlike Bitcoin, which has a limited supply that can create scarcity and reluctance to spend, Dogecoin has a fixed number of coins generated annually.
This makes it more useful as a currency for regular transactions. 🪙
In terms of market cap, Bitcoin currently dominates the space with a staggering market capitalization of over $500 billion, while Dogecoin, though far behind, still holds a strong position with a market cap of around $10 billion. Despite the gap, Musk believes Dogecoin’s potential is enormous, especially with its ease of use and low transaction fees. 💥