Elon Musk Praises Dogecoin Inflation Rate: 'Feature, Not a Bug'

Quick Summary:

Elon Musk said Wednesday that Dogecoin's odd tokenomics actually work in the meme coin's favor, which one DOGE founder agreed with.

Unlike Bitcoin or Ethereum, Dogecoin—the sixth-biggest cryptocurrency with a market cap of $56 billion—has an infinite supply limit with 10,000 new coins minted every minute.

The asset’s developers exclusively told Decrypt in 2019 that they were working with Musk to make it a viable cryptocurrency for payments.

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Article Details

Author / Journalist: Mathew Di Salvo

Category: Crypto

Markets: EstoniaCuba

Topics: Billy markus Donald Trump United States Elon musk Coins Department of Government Efficiency Doge Dogecoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 22:58:21 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 498 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 23576864

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 7 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 9 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #63

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