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‘A lot Increased Potential’—Elon Musk Reveals Why He’s Backing Dogecoin Over Bitcoin And Ethereum Amid Large Crypto Worth Crash

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Elon Musk, the Tesla

TSLA
billionaire who’s helped the “joke” bitcoin rival dogecoin turn out to be a significant cryptocurrency this 12 months, has outlined precisely why he helps the memecoin over the likes of bitcoin, ethereum and different cryptocurrencies.

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The bitcoin value has fallen sharply over the past month, shedding round 25% of its worth and hitting the worth of ethereum and most different main cryptocurrencies—together with the meme-based dogecoin.

Musk, talking to Time journal after it named him Time’s 2021 Individual of the Yr, stated he thinks dogecoin is best fitted to transactions than bitcoin and has a “a lot increased potential.”

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