Timothy Ursich Jr. – who runs for election to the US Senate to represent California – has vowed to draft a bill proposing Dogecoin as an official payment method if he is victorious. He also said that the two best instruments against the current galloping inflation are major cryptocurrencies – bitcoin and ether.
Votes can determine DOGE’s future status
A special election to the United States Senate in California will take place on June 7. One of the candidates is a member of the Democratic Party – Dr Timothy Ursich – who turned out to be a cryptocurrency proponent.
In a recent tweet, the 37-year-old politician promised to propose a bill giving Dogecoin the status of legal tender. To accomplish that goal, he enlisted the help of software engineer Billy Marcus (co-founder of Memecoin) and the world’s richest man, Elon Musk (a vocal supporter of the asset).
— Dr. Timothy Ursich Jr. candidate for US Senate 2022 (@Ursich4SenateCA) 2 June 2022
Currently, the only digital asset used as an official payment method is bitcoin (BTC) since El Salvador and the Central African Republic adopted it in 2021 and earlier this year respectively.
Ursich too believe that That cryptocurrency could be a successful hedge against the record inflation reigning in the States. According to him, assets with limited supply and strong adoption, such as bitcoin, may fit the bill. Despite the lack of a maximum limit, unlike BTC, the politician said that ETH can also serve as such a tool.
Musk and Dogecoin
The price of Dogecoin, worth less than one cent in early 2021, rose to an all-time high of over $0.70 a few months later. It’s safe to say that some of its progress was made by Tesla’s CEO – Elon Musk. Last April, the entrepreneur vowed that one of the corporations he runs — SpaceX — would “literally put a literal Dogecoin on the moon.” Soon after that announcement, the USD valuation of Memecoin Enhanced From 35%.
A few months later, Moscow criticized Bitcoin and Ether to make transactions slow and expensive, while believing that DOGE can reduce fees and provide faster settlement speeds.
The Tesla boss attended a B Word event in July, where he revealed that he personally invested some of his assets in BTC, ETH and DOGE.
His support for Memecoin peaked in early 2022 when he Challenge: US fast-food chain – McDonald’s – to accept it as a means of payment. If the firm does, Musk promises to eat the Happy Meal (the company’s signature burger and box of french fries) on TV.
A few days ago, the billionaire again raised the price of DOGE, apparent That SpaceX will soon adopt Memecoin as a form of payment.
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