Elon Musk asks his followers about Tesla's acceptance of Dogecoin



 Entrepreneur Elon Musk asked his Twitter followers whether Tesla should start accepting Dogecoin as a payment method for its cars.

The proposal immediately received significant support from its followers, and within 10 minutes of the publication of the survey, about 400,000 people voted, and nearly 80 percent of respondents said yes.

Any support from Tesla is likely to help accelerate the growth of the cryptocurrency, which was originally created as a kind of joke.

But Tesla also has to deal with the extreme fluctuations in the value of the digital currency.

Dogecoin gained an increase of nearly 10,000 percent in 2021, but at the same time has often seen sharp declines in its price.

The proposal comes just a day after Elon Musk announced that his other company, SpaceX, will launch a satellite called Doge-1 to the moon next year.

He noted that the cost of the mission will be paid in full by cryptocurrency, allowing it to become the first cryptocurrency to reach space.

Tesla began accepting bitcoin as a payment method and bought a huge amount of cryptocurrency earlier this year.

It has sometimes made much more profit through cryptocurrency than it made from its core auto business due to the high price of bitcoin.

Experts noted that Tesla's support has helped significantly legalize Bitcoin, and this adoption has probably helped the cryptocurrency rise.

In the few minutes following Tesla's announcement in February that it was backing bitcoin, the currency's price rose by 14 percent.

Musk's offer to support Dogecoin comes just days after the cryptocurrency's Price suffered a dip after hitting an all-time high on Saturday, and its price has fallen 0.6 percent over the past 24 hours.

These ups and downs appear to have been the result of Elon Musk's appearance on Saturday Night Live, where the price gradually rose before the show, but then fell over the course of the actual broadcast because Musk only mentioned it lightly.

Elon Musk's new tweet about Tesla's potential support for the currency helped it regain some of its value, and the price jumped about 17 percent in the minutes after the vote.

Post a Comment

Previous Post Next Post