Elon Musk has once again openly promoted his favourite meme cryptocurrency. This time, the backing coincides with billionaire entrepreneur Mark Cuban’s assertion that Dogecoin is the most powerful cryptocurrency as a medium of exchange.
For a long time, Dogecoin has pleased both Musk and Cuban. Celebrity entrepreneurs praise cryptocurrencies for its strong community and for adding a lighthearted element to the serious world of blockchain.
Recently , Cuban stated the same thing. Cuban told CNBC that the Dogecoin community is “the strongest” when it comes to using the cryptocurrency as a medium of exchange. As a result, according to Cuban, Dogecoin can be used for “the procurement of goods and services.”
Elon Musk, in response to Cuban’s statements on CNBC, rushed to Twitter on Saturday to back up his allegation. “I’ve been saying this for a while,” Musk added, confirming what Cuban had said about Dogecoin to CNBC.
Dogecoin has long been a favourite altcoin of both Cuban and Musk, who have admitted as much on multiple occasions. Cuban began accepting Dogecoin as a form of payment for products for the Dallas Mavericks earlier this year. Cuban, as the team’s owner, said that consumers who paid with Dogecoin during the summer sale will receive discounted items.
Musk, on the other hand, has been an asset in Dogecoin’s ups and downs as a result of his opinions. On social media, the Tesla CEO has been the most vocal supporter of the Dogecoin community, enthusiastically promoting altcoin in many of his postings.