Dogecoin Creator Discloses the Reason Why Top Businesses Don’t Accept Payments in DOGE

Billy Marcus has revealed why big businesses are not bullish on Dogecoin And Bitcoin payments. 

Leading meme-based cryptocurrency, Dogecoin (DOGE), has enjoyed widespread adoption among online businesses due to its ability to settle transactions within seconds. 

While DOGE has been adopted by top companies like Tesla and Dallas Mavericks in the past, the cryptocurrency is lagging behind in terms of its use as a payment tool. 

In a recent tweet, a Dogecoin enthusiast sought to understand why DOGE has not been widely adopted by big businesses despite its enormous opportunities. 

“Why do you think big businesses are reluctant to accept #Dogecoin as payment despite our blockchain being secure, our transaction fees are a fraction of a penny, no scams, no charge backs, more secure than Credit cards & debit cards?,” the Twitter user asked. 

Dogecoin Founder’s Reaction

Responding to the question is none other than Billy Marcus, the co-creator of Dogecoin, who has always been outspoken about these issues. 

Instead of answering the question directly, Marcus dragged Bitcoin into the conversation. He noted that Dogecoin is not the only cryptocurrency that has not enjoyed widespread adoption among top businesses, adding that “most businesses don’t accept bitcoin either.” 

His reason for the slow adoption of crypto, including DOGE, as a payment tool is high taxes and the volatile asset class. 

“Probably because taxes are a pain in the a**, and it’s volatile as f**k,” Marcus said in response to the question raised by a Dogecoin supporter. 

most businesses don’t accept bitcoin either

probably cuz taxes are a pain in the ass and it’s volatile af

— Shibetoshi Nakamoto (@BillyM2k) August 17, 2022

High Volatility in Crypto

Crypto assets are known to be highly volatile. Investors can record huge gains in a matter of minutes and lose everything in a split second. 

Not many companies will be prepared to take on such risks by accepting the nascent asset class as a payment method for their goods and services. 

Interestingly, some top businesses, including Elon Musk’s Tesla and SpaceX, as well as the Dallas Mavericks, have declared support for Dogecoin payments in the past. 

One of the major reasons Musk added support for DOGE is because the cryptocurrency is tipped to become the future currency of the internet. 

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