Elon Musk has officially endorsed his favorite meme cryptocurrency for the second time in a few months. When it comes to cryptocurrency as a means of exchange, this time the support is in agreement with billionaire entrepreneur Mark Cuban’s declaration that Dogecoin is the strongest cryptocurrency.
Dogecoin has been a source of fascination for both Musk and Cuban for some time. They praise cryptocurrencies for its strong community and for the fact that it adds a light-hearted touch to the otherwise serious realm of blockchain technology, according to the celebrities.
Cuban had stated the same thing only a few days before. As Cuban said in an interview with CNBC, “the strongest when it comes to using it as a means of trade” is the Dogecoin community, which he describes as “the strongest.” In turn, Dogecoin may be used for “the procurement of goods and services,” according to Cuban, who also created the cryptocurrency.
Elon Musk responded on Twitter on Saturday to Mark Cuban’s statements on CNBC, claiming that Cuban was correct in his assertion. Musk responded, “I’ve been saying this for a long time,” expressing his agreement with what Cuban had said about Dogecoin in an interview with CNBC earlier this week.
Throughout their careers, both Cuban and Musk have stated that Dogecoin is their favorite altcoin, and the two entrepreneurs have admitted as much time and time again. Earlier this year, Cuban began accepting Dogecoin as a form of payment for items related to the Dallas Mavericks, a professional basketball club. As the team’s owner, Cuban said that consumers who choose to pay with Dogecoin during the summer sale would enjoy special discounts on the team’s products.
I’ve been saying this for a while
— Elon Musk (@elonmusk) August 14, 2021
Musk, on the other hand, has had a role in the ups and downs of Dogecoin’s value as an asset by expressing his thoughts. The CEO of Tesla has been the most outspoken advocate for the Dogecoin community on social media, and he actively supports the cryptocurrency through many of his tweets and Facebook posts.
Musk has also been striving to make Dogecoin a more useful cryptocurrency in the long run. He previously stated that he is collaborating with the cryptocurrency’s developers to enhance the efficiency of the network’s transaction processing. There has, however, been no more development in this regard.
Musk has even hinted at the possibility of using Dogecoin for transactions within his own firm, Tesla. Late last year, the company began taking Bitcoin as a form of payment for its electric automobiles on the market. Even though it discontinued the payment mechanism after a few months, there were suggestions that it may be expanded to incorporate Dogecoin in the future.
A Dogecoin-sponsored spacecraft will be sent to the moon by Musk’s other business, SpaceX, in early next year, according to Musk’s previous announcements. Musk’s support of Dogecoin has earned him the moniker of “Dogefather” among the community, and his efforts are likely to continue as long as Musk remains optimistic about the project’s prospects.