News Dogecoin rises, Elon Musk announces acceptance of payments at Tesla

Dogecoin rise, Elon Musk announces acceptance of payments at Tesla

Dogecoin has skyrocketed 33% after CEO Elon Musk of US EV giant Tesla said it would accept it as a payment method. "Tesla will allow multiple products to be purchased with Dogecoin and see what happens," Musk tweeted. Dogecoin rose to $ 0.20 and then fell to around $ 0.18. Mr. Musk, who was named "Person of the Year" by Time magazine, once actively supported the development and popularization of Dogecoin when the developers of Dogecoin abandoned the project in 2015. In early 2021, Tesla began Bitcoin payments, but soon stopped due to growing concerns about Bitcoin's energy usage. Musk regularly tweets about Dogecoin. In February, I posted a photo of a rocket flying against the background of the moon. He went on to tweet that he said "Doge." Two consecutive tweets mean "going to the moon," which means the rise of Dogecoin. Also in February, he posted an image of himself dressed as Rafiki and a Shiba Inu as Simba, using a photo of the musical The Lion King (Rafiki is an old baboon and shows the way to the main character Simba). Dogecoin prices have risen again. In May, Musk tweeted that he was working with Dogecoin developers to improve the efficiency of the system. Dogecoin prices have risen 22%. In June, he tweeted that it was "important to support" a proposal to reduce dogcoin transaction fees in order to make Dogecoin more competitive. But Musk, like many crypto enthusiasts, doesn't think crypto assets will succeed. "I don't think crypto assets will replace fiat currencies," Musk said in an interview after being named "Person of the Year." ｜ Translation: coindesk JAPAN ｜ Editing: Takayuki Masuda ｜ Image: Blomst / Aliexpress ｜ Original: Dogecoin Surges as Elon Musk Teases Tesla Merchandise Plan

CoinDesk Japan Editorial Department