The preparation for the Dogepalooza is gearing up as more and more industry leaders take sides in the “Doge Or No” argument. So let’s take a quick look at some noteworthy moments and conversations in the Doge community this week.
Bitstamp CEO Rejects Dogecoin Hype
Despite multiple industry leaders and influentials adopting the Dogecoin hype, Bitstamp CEO is still not convinced of the meme coin’s potential. Talking to Financial News, CEO Julian Sawyer clarified that he would not add the coin to the Bitstamp exchange platform. According to Sawyer, as one of the oldest crypto exchange platforms, Bitstamp prioritizes quality over quantity. Citing the example of the fluctuating DOGE prices depending on Elon Musk’s tweets, Sawyer commented,
“This is not a race to quantity, this is a race to quality. The issue is that if you go to some that are hyped up by a billionaire’s tweet, or crashes on a billionaire’s tweet, we don’t think that’s right.”
Doge Finds Momentum With Industry Acceptance
Dogecoin’s rise to popularity continues as Dallas Mavericks owner and billionaire investor Mark Cuban expressed his support for the coin by welcoming it into his team’s merchandise sales. The payment channel was crypto payment processor BitPay, which announced on March 4 via a press release that merchants would be accepting Dogecoin in payment for Dallas Mavericks merchandise.
On August 12, Cuban announced discounted rates for his team’s merch for all DOGE payers. He has also claimed DOGE to be the most popular mode of crypto payments, calling it the people’s way to pay.
“It’s a medium that can be used for the acquisition of goods and services… The community for doge is the strongest when it comes to using it as a medium of exchange.“
DOGE For Tesla?
The latest development in Dogecoin’s progress happened when Puerto Rico-based IT firm BOTS Inc announced that they will be offering second-hand Tesla cars in exchange for $DOGE. Earlier this year, Elon Musk had also placed a Twitter poll asking if he should accept DOGE payments for Tesla cars. Despite the overwhelming majority of Twitter users voting yes, Musk has yet to comment further on the matter. However, with Bots Inc declaring the acceptance of DOGE payments for pre-owned Tesla cars, it will become one of the first publicly traded companies to accept Doge as a mode of payment.
Dogepalooza Bags Dionne Warwick
Dogecoin’s big festival, Dogepalooza, which is slated to happen in Sugar Land, Texas on October 9, is attracting Hollywood A-listers like soul music legend Dionne Warwick, who had already been Team Doge ever since she tweeted out her support for the meme coin back in Jue. The singer, actor, TV host, and former UN ambassador will be headlining the community-driven event featuring live music, refreshments, and educational venues providing information about Dogecoin. In addition, the event aims to use the festival platform to spread the Dogecoin motto of “Do Only Good Everyday” and enable further mainstream adoption of the coin.
Musk Joins Dogecoin Advisory Board
The reinstated Dogecoin Foundation has onboarded a number of high-profile crypto experts and enthusiasts to its advisory board in a move to revamp the organization. In a statement released to the press on Tuesday, the foundation revealed,
“We believe that the success of Dogecoin is through broad global adoption and utility, and intend to focus on projects that increase Dogecoin uptake at a grassroots level. The Foundation holds the Dogecoin mark and the Dogecoin Logo and will maintain them for the community.”
Based on The Dogecoin Manifesto, the foundation introduced the advisory board, which includes crypto leaders and community members like Ethereum founder Vitalik Buterin, Dogecoin founder Shibetoshi Nakamoto and Musk-representative, Jared Birchall.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.