Dogecoin Co-Creator Billy Markus Defended Elon Musk
Dogecoin co-creator Billy Marcus made it clear that he has nothing against Elon Musk. Marcus used his Twitter account to defend Tesla’s CEO Elon Musk following his criticism of bitcoin. Dogecoin co-creator believes the two cryptocurrencies can coexist and there should be no war between them.
Marcus wrote on Twitter bitcoin and meme cryptocurrency can help each other as they have done in the past. Created mainly as a joke several years ago, dogecoin gained popularity in 2021, largely thanks to Elon Musk.
He also added that bitcoin is the only reason dogecoin exists, but Marcus called some bitcoin users “toxic”. According to Marcus, the only war should be against the liars, scammers, and toxicity that pollutes the entire space.
It is hard not to agree with him, as some dogecoin investors who watched Musk’s appearance on “Saturday Night Live” were caught up in a massive scam. Scammers hosted YouTube live streams of Musk’s appearance and included an ad that encouraged owners to double or triple their dogecoins. One scammer allegedly received 9.7 million dogecoins worth $5 million at that time.
Dogecoin and bitcoin
Billy Marcus also gave a professional tip to bitcoin supporters who attacked Elon Musk on Twitter. Some people strongly criticized Musk due to his position regarding bitcoin. Dogecoin co-creator asked them not to criticize other people’s coin of choice and to be “genuinely excited” about their coins themselves.
Elon Musk supports dogecoin and seems to be making a bigger push for its acceptance. The billionaire entrepreneur announced that Tesla abandoned bitcoin payments.
On May 17, Musk clarified in a tweet that Tesla has not sold any bitcoin. Several days ago, Musk also noted that Tesla plans to hold rather than sell its current bitcoin holdings. The electric carmaker also plans to use it for transactions as soon as mining transitions to more sustainable energy.
Nonetheless, he implied in a Twitter exchange on Sunday that Tesla sold or may sell the rest of its bitcoin holdings. His tweet affected the price of bitcoin as it fell below $43,000.
Musk also noted that Tesla is looking at other cryptocurrencies that use 1% of Bitcoin’s energy/transaction.
The potential environmental damage of cryptocurrency mining remains one of the most debated topics. However, several researchers dismissed such concerns.
The world’s largest cryptocurrency lost 6.4% during the past 24 hours and is trading at $44,952.47. Dogecoin dropped 7.1% during the same period of time and is trading at $0.4933.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.