Elon Musk, the CEO of the American electric vehicle manufacturer Tesla, has reiterated his support for the meme-based cryptocurrency Dogecoin (DOGE).
Musk stated in a recent interview that Dogecoin is superior to Bitcoin (BTC) for payment processing because “the total transaction capability of Dogecoin is much higher than Bitcoin.”
Even though DOGE was launched as a joke cryptocurrency in 2013, Musk stated that the token has a lot of potentials, particularly when used in payments.
Musk has backed up his words with actions regarding DOGE’s payment capabilities.
Musk has added Dogecoin support to his businesses, including Tesla and SpaceX. For example, the well-known cryptocurrency can be used to buy Tesla and SpaceX merchandise.
Musk’s ultimate goal is to see Dogecoin used as the “internet currency.” Earlier this year, Vladimir Tenev, co-founder of Robinhood Markets, shared his thoughts on how Dogecoin can become the internet’s currency.
Musk reacted to Tenev’s tips by bringing them to the attention of Dogecoin co-creator Billy Marcus.