US Senate Candidate Will Propose to Make Dogecoin Legal Tender if he Wins

Timothy Ursich Jr., who is running for the US Senate to represent California, has promised that he will draft legislation proposing Dogecoin to be an official payment method in case he wins. He stated that bitcoin and ether are two of the most effective tools against current inflation.

The Future Status of DOGE Could Be Determined by Votes

On June 7, the United States Senate special election will be held in California. One of the candidates, Dr. Timothy Ursich from the Democratic Party, is one of them. He turned out to be a crypto proponent.

The 37-year old politician posted a tweet promising to introduce a bill that would give Dogecoin legal tender status. He enlisted the assistance of Elon Musk, the world’s most prominent supporter of the asset, and Billy Markus, the software engineer who co-founded the memecoin.

For support in my US Senate campaign here, California, I call upon @BillyM2k & @elonmusk

As I mentioned several weeks ago, if I am voted in/elected by June 7, I will draft a bill proposing #Dogecoin to be Legal Tender. I will advocate for mass adoption through the universal utility and #cryptocurrency

— Dr. Timothy Ursich Jr Candidate for US Senate 2022 (@Ursich4SenateCA) June 2, 2022

Since El Salvador adopted bitcoin (BTC), and earlier this year, it is the only digital currency that can be used to pay official fees.

Ursich believes that cryptocurrencies can be used as a hedge against the high levels of inflation in the United States. He believes assets that have a limited supply and are well-adopted, like bitcoin, would fit the bill. ETH, despite not having a maximum limit, like BTC, could work as such an instrument, according to the politician.

Musk and Dogecoin

Dogecoin was worth less than one cent at the start of 2021. However, its price rose to over $0.70 just a few months later. It’s safe to say that Tesla’s CEO, Elon Musk, was part of some of the company’s progress. The entrepreneur promised that SpaceX, one of his corporations, would “put a literal Dogecoin onto the literal Moon” in April. Shortly thereafter, the USD value of the memecoin soared by 35%.

Musk criticised bitcoin and ether for slow and costly transactions, while stating that DOGE could reduce fees and offer a quicker settlement speed.

Tesla’s boss participated in the B Word Event in Juli, where he disclosed that he had invested some of his wealth into BTC, ETH and DOGE.

At the beginning of 2022, his support for the memecoin reached its peak when he challenged McDonald’s (a US fast-food restaurant) to accept it as a method of payment. Musk said that he would eat a Happy Meal, the company’s signature burger with french fries, if the firm did so.

The billionaire raised DOGE’s value again a few days ago and revealed that SpaceX would soon accept the memecoin for payment.

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the””  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner