Elon Musk has expressed support for Dogecoin's inflationary model, stating that he sees it as a feature rather than a bug. Unlike Bitcoin and Ethereum, Dogecoin has an infinite supply limit with 10,000 new coins minted every minute, causing the percentage of total supply it represents to gradually decrease over time. Musk's comments came in response to Dogecoin co-founder Billy Markus' tweet about adjusting the tokenomics of the cryptocurrency. Musk believes that Dogecoin's flat inflation makes it an ideal currency. This is not the first time Dogecoin's tokenomics have been a topic of discussion, with billionaire Mark Cuban previously highlighting its utility as a payment method. Musk has been a long-time supporter of Dogecoin and has worked with its developers to make it a viable cryptocurrency for payments.
- Content Editor ( decrypt.co )
- 2024-11-14
Elon Musk Praises Dogecoin Inflation Rate: 'Feature, Not a Bug'