On December 14, Elon Musk said that Dogecoin was better than Bitcoin for payments

Musk said that Bitcoin was not a good substitute for transactional currency, and Dogecoin was better suited for transactions in an interview with Time Magazine. The transaction value of Bitcoin is low and the cost per transaction is high. Bitcoin is suitable as a store of value. This is why investors usually hold it rather than sell it or use it for trading. Musk said that in addition to investing in Bitcoin and Ethereum, he also invested in DOGE coin.