‘Super Important’—Billionaire Elon Musk Made A Radical Dogecoin Proposal Amid A Huge Bitcoin And Crypto Price Bounce Back

Forbes

Elon Musk, the dogecoin-boosting Telsa billionaire, has once again weighed in on the meme-based cryptocurrency, suggesting dogecoin fees need to fall before it can become a viable payment option.

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains

How To Get Free Crypto  

The price of dogecoin has bounced over the last 24 hours, climbing alongside the bitcoin price as confidence returns to the cryptocurrency market. The bitcoin price rally, coming after a steep sell-off, fueled a broad crypto price surge.

Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday

MORE FROM FORBES‘Trillions Of Dollars’-Kevin O’Leary Reveals Massive Bitcoin Price Prediction And Crypto Plan

Tesla CEO Elon Musk has adopted dogecoin as something of a pet project this year, even after adding … [+] $1.5 billion worth of bitcoin to Tesla’s balance sheet earlier this year.

Getty Images

MORE FOR YOU

“Super important for doge fees to drop to make things like buying movie [tickets] viable,” Musk said via Twitter TWTR .

Coinbase Banner  

Musk, who has repeatedly called for dogecoin updates and improvements this year, was responding to a tweet by dogecoin co-creator Billy Markus.

“Robinhood announcing wallets, AMC CEO not only talking about accepting dogecoin but saying it was the single most interacted with tweet he has ever made, the crypto market finally seeing some green,” Markus said, referencing an earlier tweet by the chief executive of U.S. cinema chain AMC, Adam Aron, and fee-free trading app Robinhood’s announcement it would soon launch a crypto wallet.

“It’s clear that you think AMC should accept dogecoin,” Aron said after AMC revealed in August it plans to begin accepting bitcoin, ether, bitcoin cash, and litecoin by the end of the year. “Now we need to figure out how to do that.”

Aron had previously run a Twitter poll that attracted 140,000 votes within 24 hours, closing with 68% voting for AMC to accept dogecoin. Another 9% said to go ahead with the cryptocurrency even if they wouldn’t use it, while 23% said AMC shouldn’t bother with dogecoin at all.

FreeBitcoin Banner  

“Dogecoin poll was by far my highest ever read tweet,” added Aron. “In 24 hours, 4.2 million views, my most ever retweets, most ever replies.”

Musk “liked” the dogecoin poll on Twitter, prompting Aron to call Musk “the epitome of innovation above all others.”

CryptoCodex—A free, daily newsletter for the crypto-curious

MORE FROM FORBES‘$500,000 In Five Years’-Elon Musk And Tesla Devotee Cathie Wood Reveals Huge Bitcoin And Ethereum Price Predictions

The dogecoin price leaped following Elon Musk’s surprise dogecoin suggestion, climbing alongside the … [+] bitcoin price and a wider crypto market recovery.

Coinbase

Musk, who’s become one of dogecoin’s biggest backers following years of support, has repeatedly endorsed the meme-based bitcoin rival, drawing the ire of the bitcoin community. In July, speaking during a live discussion with Twitter’s Jack Dorsey, and major Tesla and bitcoin investor Cathie Wood, Musk elaborated on ideas he’d previously floated to use dogecoin and ethereum to “max transaction rates and lower transaction costs.”

Earlier this month, Musk called a dogecoin upgrade, designed to secure the dogecoin blockchain and reduce transaction fees, “important.”

Go to Source
Author: Billy Bambrough, Senior Contributor


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.