Tuesday, June 22, 2021

Elon Musk asks his Twitter followers whether Tesla should accept Dogecoin or not.

The Takeaway:

Tesla CEO Elon Musk has hinted today at the possibility of the electric car company accepting Dogecoin (DOGE) for payments as he asked his 53.9 million followers on Twitter.

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Elon Musk has hinted that Tesla could also start accepting the mem-based cryptocurrency Dogecoin as payment for its cars. Tesla, which is already accepting bitcoin as payment for its cars and holds it as part of its reserves, could also include Dogecoin as part of its accepted cryptocurrency roster. Elon Musk tweeted to his 53.6 million followers whether Tesla should accept Dogecoin or not.

 

Elon Musk continues to post about Dogecoin. 

Elon Musk asked today in a poll on Twitter to his fans if they would like Tesla to accept Dogecoin. Unsurprisingly, he got a mostly positive answer, with more than 70% of the polled answering they would like it at the time of writing. The tech billionaire has been one of the main proponents of cryptocurrency in the corporate arena. Tesla is already accepting bitcoin as payment for its cars directly on its website, but Dogecoin is a relatively unstable currency in terms of price compared to the former, and if it indeed received by the company, it’s unclear if it would be sold for fiat money.

 

Elon Musk’s SNL appearance did not send “DOGE to the moon.”

Elon Musk hosted the Saturday Night Live sketch TV show last weekend. Several crypto enthusiasts had predicted that his appearance on the famous TV show would drive Dogecoin’s prices to a new high. Tesla did mention Dogecoin in one of the sketches, but it did not do much for the price of the meme-based cryptocurrency. In fact, the price of Dogecoin fell further after his appearance on the SNL. Earlier, Tesla bought $1.5 billion in bitcoin last February and has already made over $1 billion in profits from its crypto holdings. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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