Elon Musk Issues Strong Warning About Bitcoin
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Tesla CEO Elon Musk who is a strong supporter of meme cryptocurrency Dogecoin, has once again backed the coin ahead of Bitcoin and Ethereum
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Musk warned the crypto community about the limitations of Bitcoin and Ethereum and he termed them slow and high-cost
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The billionaire was replying a tweet that said a new update is coming for dogecoin that will put it in a good position to be one of the most used cryptocurrencies worldwide
Tesla boss Elon Musk is not one to stay clear of the crypto market and once again he has issued a warning about flagship cryptocurrency Bitcoin and Ethereum.
Musk warned about the limitations of both cryptocurrencies in a recent tweet calling them slow and high-cost.
The billionaire made this statement on Friday while replying to dogecoin investor Matt Wallace who stated that an update is coming for dogecoin.
It is expected that most of bitcoin’s issues listed by the billionaire will be resolved in the taproot upgrade.
Ethereum has an upgrade on the way but it is not expected to be completed for years.
Read also: Elon Musk is Worth $185Bn But He Lives in a Box
It will be remembered that Musk stated that an upgrade for dogecoin is needed for it to become the currency of the world.
Following Elon Musk’s backing of Dogecoin, the coin gained 8% and it is currently trading at $0.22.
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