Tesla and Spacex business executive Elon Musk says that dogecoin has potential as a currency. However, his Twitter acquisition deal has been placed on hold “pending details supporting calculation that spam/fake accounts do so represent but five-hitter of users.”

Elon Musk Says Dogecoin Has Potential as a Currency

Tesla business executive Elon Musk has created another optimistic statement regarding the acculturation cryptocurrency dogecoin (DOGE) despite large sell-offs across the crypto market.

Musk Affirmed that dogecoin “has potential as a currency.” His tweet was in response to a comment by dogecoin co-creator Billy Markus, United Nations agency aforementioned that the explanation he likes the acculturation cryptocurrency is as a result of “it is aware of it’s stupid.”

The Tesla CEO’s tweet reiterated his earlier statement that DOGE is the best crypto for transactions. In distinction, the aforementioned bitcoin is healthier suited as a store valuable. Musk, who is known within the crypto community because the Dogefather, additionally mentioned that dogecoin is “the people’s crypto.”

An old supporter of DOGE, Musk tweeted in Apr 2019: “Dogecoin may be my fav cryptocurrency. It’s pretty cool.” The Tesla boss additionally unconcealed that he in person owns dogecoin additionally to bitcoin and ether.

Musk’s Twitter Deal Is on Hold

The Tesla boss has offered to shop for Twitter for approximately $44 billion, which the social media company accepted. Since then, he has been discussing varied ways in which to enhance the platform.

However, Musk declared Friday that his Twitter acquisition deal has currently been placed on hold, tweeting:

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do so represent but 5% of users

Nonetheless, he said that he’s “Still committed to [the] acquisition.”

One of the most important issues he’s attempting to unravel is cryptocurrency spam bots. Musk referred to it as the “single most annoying drawback on Twitter.” Shark Tank star and also the owner of the NBA team Metropolis Mavericks, Mark Cuban, has recommended using dogecoin as an answer to unravel the Twitter spambot drawback. Musk responded by saying that it’s “not a foul plan.” He additionally indicated that dogecoin may be accepted for the Twitter Blue service.