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Time magazine’s Person of the Year Elon Musk reacted positively to the tweet of his friend Bill Marcus, who is the creator of the first memecoin on the cryptocurrency market – Dogecoin.
Billy’s tweet
The creator of Dogecoin posted a screenshot of the top cryptocurrencies showing unprecedented growth rates that were fueled by the well-known cryptocurrency market tracker CoinMarketCap.
In a tweet, developer Doge points out that he should “raise his tax rate a little,” citing a progressive tax system that requires farms to increase their tax rates and pay taxes in line with their income. Households with higher incomes pay taxes up to 37%, while individuals with the lowest incomes pay taxes at 10%.
The glitch was immediately noticed by the official CoinMarketCap account and was soon fixed. The website is functioning normally at this time, which also applies to applications that use its API.
Billionaire reaction
Elon Musk reacted with a laughing emoji right before a heated engagement with Elizabeth Warren, who said regulators should change the falsified tax code to force Musk to pay more taxes.
The senator is most likely referring to the introduction of unrealized capital gains taxes, which would allow taxing individuals who have not yet realized their income from various sources of income, including cryptocurrencies and the stock market.
Musk has previously been cited as a strong Dogecoin proponent who constantly responds to tweets and threads from the coin’s creator. Tesla’s CEO had previously said the company would be adopting DOGE for merchandise in the future, sparking a more than 30% surge in the market.
Posted by Anastasia Zapolskaya, analyst at Freedman Сlub Crypto News
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