Category: Forex News

Dogecoin Founder Responds to Elon Musk’s Tweet, Hinting at Bitcoin

Cover image via www.youtube.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Contents

Billy Markus, who created the original meme-inspired cryptocurrency Dogecoin in 2013 in collaboration with Jackson Palmer, has responded to a recent tweet published by Elon Musk.

The crypto community interpreted Markus’s tweet as a hint at Bitcoin mining equipment.

“The new gold” Markus tweets to Musk

Earlier today, centibillionaire, owner of the Twitter/X app Elon Musk tweeted a meme about a knight who wishes to kill a dragon and take his gold. Meanwhile, the dragon tells the knight that he does not own any gold in the traditional sense of the word.

Instead, the dragon shows the knight that he guards a thresher that separates the wheat from the chaff without much manual labor necessary. The dragon points out the benefits of new technologies to the warrior and tells him that he also has an automated cotton loom. “The wealth of nations lies not in gold or coins but in their productive capacity,” the dragon says, adding that mining more gold that there is now will also make gold less valuable.

The disappointed knight leaves the dragon and his cave in peace.

Supporting Musk and his message on new technologies, Billy Markus posted an animated GIF of a cooler fan, stating that this is “the new gold.” Commentators pointed out that this very much resembles part of ASIC miners for Bitcoin and other cryptocurrencies based on the Proof-of-Work consensus algorithm, including Dogecoin.

The crypto community responds to Billy Markus
Image via Twitter/X 

Elon Musk and Bitcoin

Musk is a well-known fan of DOGE and a “pen pal” of Markus. In 2021, Musk announced that Tesla would begin accepting Bitcoin for its e-cars, along with buying a massive $1.5 billion worth of the flagship cryptocurrency – approximately 43,000 BTC back then.

However, a few months later, Tesla backed out of taking Bitcoin payments out of environmental concerns. In April that year, when this Tesla Bitcoin reverse happened, BTC soared to its first all-time high that year, reaching $63,500. Musk announced that Tesla would resume accepting Bitcoin payments once miners replace 50% of their energy to renewable resources. Tesla and SpaceX accept Dogecoin, though. A lunar mission paid for in DOGE is expected to take place in the foreseeable future.

However, both these companies run by Musk still hold BTC, as reported by U.Today recently.




Source link


Discover more from BIPNs

Subscribe to get the latest posts to your email.

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.


Discover more from BIPNs

Subscribe to get the latest posts to your email.