Peter McCormack criticises Elon Musk for backing Dogecoin

Peter McCormack, host of the popular podcast about digital gold, called Elon Musk’s words about the need to reduce Dogecoin (DOGE) network fees for mass adoption of cryptocurrency ‘nonsense’.

You just put 4 civilians in space and you are still Tweeting doggycoin bollocks.

— Peter McCormack (@PeterMcCormack) September 22, 2021

“You just sent four civilians into space, but you keep tweeting Dogecoin nonsense,” McCormack wrote.

Musk’s words were a response to a post by Billy Markus, co-founder of the cryptocurrency who is not currently affiliated with the Dogecoin team. He highlighted recent milestones for the crypto industry and the project itself, namely Robinhood wallet announcements and the news that DOGE would be supported by AMC Theatres’ network.

Robinhood announcing wallets, AMC CEO not only talking about accepting Dogecoin, but saying it was the single most interacted with tweet he has ever made, the crypto market finally seeing some green.

I gotta say… pic.twitter.com/3bWIU54keB

— Shibetoshi Nakamoto (@BillyM2k) September 22, 2021

“Robinhood is announcing wallets, the AMC CEO not only says Dogecoin should be accepted but also says it was the most popular tweet of his life. The crypto market is finally smelling money,” wrote Markus.

The cryptocurrency co-founder sided with Musk and replied to McCormack in a rather sharp manner.

“Well, you haven’t achieved anything and you tweet irritating nonsense,” he wrote.

Against Musk’s backing, rumors circulated online that Tesla would begin accepting DOGE as payment after the Robinhood wallet launch. The source of these stories was blogger Matt Wallace.

Tesla will announce #Dogecoin acceptance after Robinhood wallets are released!

— Matt Wallace (@MattWallace888) September 22, 2021

Earlier, AMC CEO Adam Aron launched a Twitter poll asking whether his company should consider supporting Dogecoin. The post liked Musk, and 144,000 people participated in the poll, most of whom answered positively.

SO FASCINATING! Dogecoin Poll was by far my highest ever read tweet. In 24 hours, 4.2 million views, my most ever retweets, most ever replies. 140,000 votes 77% yes 23% no. It’s clear that you think AMC should accept Dogecoin. Now we need to figure out how to do that. Stay tuned! pic.twitter.com/tkClzgMBMO

— Adam Aron (@CEOAdam) September 22, 2021

“So fascinating! The Dogecoin poll became my most-read tweet. In 24 hours, it drew 4.2 million views, the most retweets and replies. 140,000 votes — 77% yes, 23% no. It’s clear that you think AMC should accept Dogecoin. Now we need to figure out how to do that,” Aron wrote.

On September 22, the RedSwan platform for tokenising commercial real estate also announced support for DOGE. The cryptocurrency is used in two deals, with a total value estimated at $384 million.

“[Dogecoin] is on the cusp of moving from meme cryptocurrency to legitimate institutional and transactional use cases,” said RedSwan CEO Ed Nwokedi.

Dogecoin’s price rose in response to these headlines, as well as to the outcomes of the meeting of the FRS. In 24 hours, the cryptocurrency rose 7%, according to CoinGecko. At the time of writing, the asset traded near $0.22.

Back in September, Elon Musk praised the developers of the Dogecoin client for the progress achieved.

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