US Senate Candidate Will Propose to Make Dogecoin Legal Tender if he Wins

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US Senate Candidate Will Propose to Make Dogecoin Legal Tender if he Wins
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Timothy Ursich Jr. – running for the U.S. Senate to represent California – has vowed that if he wins, he will draft a bill proposing Dogecoin as the official payment method. He also believes that the two best tools to combat the current skyrocketing inflation are the leading cryptocurrencies — Bitcoin and Ethereum.

Voting can determine the future state of DOGE

California’s special election for the U.S. Senate will be held on June 7. One of the candidates was a member of the Democratic Party — Dr. Timothy Ulsich — who turned out to be a cryptocurrency supporter.

In a recent tweet, the 37-year-old politician pledged to introduce a bill that would grant Dogecoin legal tender status. To get there, he turned to software engineer Billy Marcus (co-founder of memecoin) and the world’s richest man Elon Musk (an outspoken supporter of the asset).

Currently, the only digital asset used as an official payment method is Bitcoin (BTC), as El Salvador and the Central African Republic adopted it in 2021 and earlier this year, respectively.

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Ursic also Believe Cryptocurrencies can successfully hedge against record U.S. inflation. According to him, assets with limited supply and high adoption, such as Bitcoin, may fit the bill. Although there is no maximum cap, unlike BTC, the politician insists that ETH can also serve as such a tool.

Musk and Dogecoin

The price of Dogecoin started 2021 at less than a penny before surging to a new all-time high above $0.70 a few months later. It’s safe to say that some of its advancements have been driven by Tesla CEO Elon Musk. Last April, the entrepreneur vowed that one of the companies he runs — SpaceX — will “put a real Dogecoin on a real moon.”USD valuation of memecoin shortly after the announcement soar 35%.

A few months later, Musk criticize Bitcoin and Ethereum are used to make slow and expensive transactions, while DOGE is believed to minimize fees and provide faster settlements.

The Tesla boss, who attended the B Word Event in July, revealed that he personally invested some of his wealth in BTC, ETH, and DOGE.

His support for memecoin peaked in early 2022 when he challenge The American fast food chain – McDonald’s – accepts it as a form of payment. If the company does, Musk promises a happy meal on TV (the company’s signature burger and box of fries).

A few days ago, the billionaire raised the price of DOGE again, disclose SpaceX will soon accept memecoin as a payment method.

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