Dogecoin Spikes After Elon Musk Asks Whether Tesla Should Accept It

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  • Bloomberg Quicktake: Now published this video item, entitled “Dogecoin Spikes After Elon Musk Asks Whether Tesla Should Accept It” – below is their description.

    Dogecoin, the cryptocurrency started as a joke, jumped on Tuesday after billionaire Elon Musk tweeted about whether Tesla Inc. should accept it for payments.

    Musk, who’s been a vocal supporter of the Shiba Inu-themed token, posted a survey on Twitter asking “Do you want Tesla to accept Doge?” Within about thirty minutes, the survey had 750,000 respondents.

    The token jumped from around 46 cents to as high as 54 cents after Musk’s tweet, according to Coinmarketcap.com

    The fourth-largest cryptocurrency has proved famously volatile after the Tesla CEO appeared on “Saturday Night Live” last weekend and jokingly called Dogecoin “a hustle.” Its market capitalization has fallen from as high as $95 billion to $67 billion currently.

    SpaceX, Musk’s commercial rocket firm, will embark on a Moon voyage in 2022 carrying a mini-satellite from Geometric Energy Corp. that’s been paid for entirely in Dogecoin.

    And it wouldn’t be Tesla’s first foray into cryptocurrencies. The company announced in March that it would accept Bitcoin as payment for its electric cars, a month after disclosing a

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    Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency.

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    A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

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  • In This Story: Elon Musk

    Elon Reeve Musk FRS is a business magnate, industrial designer, engineer, and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI.

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