Elon Musk believes Dogecoin is fundamentally better than any other cryptocurrency

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Musk is bullish on Dogecoin, claims it is better than any other crypto

Elon Musk, the CEO of Tesla, is bullish on Dogecoin. The billionaire believes that Dogecoin is fundamentally better than any other cryptocurrency. Musk believes that Bitcoin is ‘comically slow’ for 2021. 

Highlights

  • I’m too dumb to understand smart contracts. My general approach to any kind of like deal or whatever is just make sure there’s clarity of understanding.

  • Musk compared Dogecoin to cryptocurrencies like Bitcoin and Ethereum. Musk argues that he doesn’t understand Ethereum-based smart contracts that are self-executing. The CEO of Tesla was quoted as saying,

Further, he predicted that Dogecoin would eventually become the official currency of Mars. Musk has previously hinted at the use of the memecoin for SpaceX. 

Musk believes that Dogecoin is fundamentally better than any other cryptocurrency. Musk plans to put Dogecoin on the moon. 

Speaking of the cryptocurrency, Musk said, 

I think Mars itself will need to have a different currency … I don’t know if Mars would have a cryptocurrency as a thing, but probably it seems likely, but it would be kind of a localized thing on Mars.

Musk has compared the memecoin with several cryptocurrencies before taking a “pro doge” stance.  @kingthies, a pseudonymous crypto analyst, has predicted that the current DOGE/USDT setup reminds him of March 2021. The analyst is keeping an eye on the memecoin for a breakout. 

FXStreet analysts believe that until Dogecoin breaches $0.21, the memecoin’s price won’t be out of trouble.   

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