Elon Musk Explains Why Dogecoin Is Better Than Bitcoin as DOGE Breaks Into Top 10

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Mon, 02/08/2021 - 05:58
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Alex Dovbnya
Not a joke: Elon Musk actually thinks that Dogecoin is better than Bitcoin, slamming the latter as "deflationary to a fault"
Elon Musk Explains Why Dogecoin Is Better Than Bitcoin as DOGE Breaks Into Top 10
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It appears that Elon Musk, the richest person on the planet, is dead serious about his obsession with meme cryptocurrency Dogecoin (DOGE).
 
After days of non-stop DOGE memes, Musk now talks about Dogecoin’s technical viability in a more serious tone. In a recent tweet, he took a shot at Bitcoin’s presumably deflationary monetary policy to make a case for the Shiba Inu-inspired crypto:

Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault.    

He also notes that Dogecoin is “a few orders of magnitude faster” than the Big Daddy of crypto.

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Dogecoin is back in the top 10   

Joke cryptocurrency Dogecoin (DOGE) is back in the top 10 on CoinMarketCap (CMC) after soaring to $0.0873 on Feb. 7.

Doge
Image by coinmarketcap.com

It was a hair’s breadth away from beating its previous all-time high of $0.0875 that was set after the cryptocurrency soared over 1,100 percent in just one day.   

The ultimate meme coin is now above Stellar (XLM) and Rover Ver-backed Bitcoin Cash (BCH).    

Dogecoin’s revival is undoubtedly a testament to Elon Musk’s Twitter power. The centibillionaire at the helm of Tesla and SpaceX made a return to Twitter to tweet about DOGE last week, which sent the token through the roof.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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