Senate candidate Timothy Ursich reportedly announced that he would incorporate Dogecoin as the official currency in California if elected. The rise of cryptocurrency is indeed on a winning streak in the United States of America. L’adoption of Dogecoin as the official currency in the State of California will have positive impacts for Californians.
Dogecoin and its advantages
The use of cryptocurrencies as official currency would allow hedge against inflation. This is what has been explained by the countries that have decided to make Bitcoin their official currency. On the other hand, Bitcoin could not offer the same advantages as Dogecoin, namely:
- Fast and free transactions
- Universal numerical value
- Exchanges can be done peer to peer. In other words, two crypto holders can directly exchange tokens with each other.
- Lower volatility due to support from Elon Musk.
- The tokens circulating between users are very numerous.
- It is the second most used crypto in the USA.
An electoral incentive
It is true that campaigning on the basis of Crypto Dogecoin is part of an electoral strategy. Timothy Ursich acknowledges, however, that this approach is possible. This is an argument for having votes, but in the making, the bill will go through without a hitch. California will find its account perfectly in the election of this bill.
Moreover, the Dogecoin in addition to its various advantages would have characteristics more appropriate to the exchanges of everyday life. To several cryptocurrency fans to attest to this by making the comparison with Bitcoin. Unlike Bitcoin, Doge is lighter, more fluid, and is not a numerical value to be used for making investments.
The strengths of this initiative
This Californian initiative has several strengths, including:
- The ability to use a relatively inflation-protected currency in California.
- The possibility for Dogecoin holders to leverage their assets without touching their savings.
- A chance for Dogecoin to gain even more volume and benefit both scholars and novices.
- Exchanges will be easier in everyday life.
Dogecoin in the USA
In the USA, Dogecoin is recognized as the most popular cryptocurrency after the eternal Bitcoin. Dogecoin was born from a meme, that’s also why it’s called memecoin. His Shiba Inu dog effigy has nevertheless aroused the enthusiasm of the public. Today, its price is less than $1, but volatility is lower.
Dogecoin being Elon Musk’s favorite cryptocurrency, its chances of being propelled to the front of the stage in the USA are great. If Timothy Ursich is elected to the Senate, the use of Dogecoin as an official currency will gradually spread to all states in the US.
In short, this plan to use Dogecoin as the official currency in California makes sense. This is one of the projects that can restore the crypto sphere. Currently, several users of virtual currencies are hoping for the realization of this project to bounce cryptos following episodes of crash.
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Dogecoin as legal tender in California: the promise of Timothy Ursich
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