Elon Musk allows the cryptocurrency Dogecoin as payment in Tesla

Elon musk cryptocurrency dogecoin

Elon musk cryptocurrency dogecoin :

Elon Musk, who was just named Time magazine’s Person of the Year, has once again demonstrated his ability to influence, at least in the world of cryptocurrencies.

Musk, who was just voted Person of the Year by Time magazine, has once again proved his power:

A gesture of his has significantly influenced the price of Dogecoin, a cryptocurrency that the South African has been backing for several months.

Dogecoin’s price has risen by 22% in a single day:

The adoption of this virtual money as a viable method of payment for a Tesla automobile has been crucial. A remark that has had a good and immediate impact on the currency’s price, which has increased by 22% in only one day.

Elon musk cryptocurrency dogecoin quotation growth 22% Tesla

Musk has long been a proponent of digital currency:

“Tesla will make certain goods accessible via Doge, and we’ll see how it works,” Musk said on Twitter, which he uses to make even high-profile announcements. The result: in just 24 hours, the Dogecoin increased from being valued at 0.161 dollars to being worth 0.211 dollars, a 22.6 percent increase. Furthermore, the number of titles exchanged after the announcement doubled compared to a typical day.

Musk, of course, did not say that the Dogecoin would be a payment currency for vehicles, but rather that it will be used for “certain things,” without identifying which ones. Indeed, this isn’t the first time Musk has made a move related to cryptocurrency that has been incorrectly closed.

Last spring, Elon Musk, the founder of Tesla and SpaceX, even accepted bitcoin as a means of payment for automobiles, albeit he quickly reversed his decision after just two months.

The tug of the battle between Elon Musk and cryptocurrencies:

But Musk’s eccentric conduct toward the Doge, in particular, culminated in May when the cryptocurrency had crested following a sustained run since April (from $ 0.062 on April 1, 2021, to a high of 0).

However, a high-profile appearance by Musk on NBC’s Saturday Night Live, in which he joked about the trustworthiness of the criptodivisa calling tone – which he referred to as a “scam” – signaled the end of the growing value.

This next twist in Musk’s screenplay about the dogecoin is unlikely to have a significant impact on the currency’s value, as its price has already dropped to $ 0.18.

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