Dogecoin soars after Elon Musk announced that Tesla will accept DOGE – Altcoin Bitcoin News


On Tuesday morning, when Elon Musk announced that Tesla would accept Dogecoin for certain products, Dogecoin was boosted. Musk has just been named Person of the Year by Time magazine and said that DOGE is more suitable for trading than Bitcoin.

Tesla will start accepting Dogecoin

Tesla CEO Elon Musk announced via Twitter that his electric car company will accept Dogecoin (DOGE) for certain products. In a tweet on Tuesday morning, Musk wrote: “Tesla will provide some items that can be purchased through doge and see how it goes.”

Just when Musk was named Time Magazine’s Person of the Year and stated that Dogecoin is More suitable for trading Than Bitcoin.Tesla boss pointed out Bitcoin It is more suitable as a means of value preservation.

According to data from Bitcoin.com Markets, the price of Dogecoin soared from $0.1699 when Musk tweeted to $0.2183 in more than an hour, an increase of 28.5%.

Dogecoin price chart on Tuesday. Source: Bitcoin.com market.

At the same time, Tesla has not resumed accepting Bitcoin.Electric car company started accept Bitcoin March.However, it stop Due to environmental issues, cryptocurrency was accepted in May.Musk later Say Tesla will resume acceptance Bitcoin “When it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy, Tesla will resume allowing Bitcoin transactions.”

Despite this, Tesla still holds Bitcoin On its balance sheet worth Approximately US$1.26 billion at the end of the third quarter. The company does not own any DOGE. However, Musk has previously stated that he personally owns Dogecoin, Bitcoin and Ethereum.

Musk had previously hinted that Tesla would accept Dogecoin. In May, he established a polling Ask his follower Tesla on Twitter if he should accept DOGE. 78.2% said yes.Since then, he has revealed that he treats meme cryptocurrency as People’s cryptocurrency. In August, he reached an agreement with NBA Dallas Mavericks owner and Shark Tank star Mark Cuban, “The Governor’s community is The strongest When it comes to using it as a medium of exchange. “

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What do you think about Tesla accepting Dogecoin? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.




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