Business & Investment

Elon Musk tweeted about Dogecoin and prices jumped quickly

The day after Tesla announced that it would stop accepting Bitcoin as a car payment, Tesla CEO Elon Musk will turn another cryptocurrency, Dogecoin, into a suitable replacement on Thursday. I suggested that I could do it.

“Work with Doge developers to improve the efficiency of system transactions.” Mask tweeted.. “Potentially promising.”

Dogecoin
DOGEUSD,
+ 22.98%

After Bitcoin, the price rose quickly
BTCUSD,
+ 1.03%

A big hit triggered by the announcement on Wednesday..Tesla
TSLA,
-3.09%

The purchase of $ 1.5 billion of Bitcoin and the acceptance of cryptocurrencies as a payment option were then seen as a sign of growing institutional acceptance of cryptocurrencies.

reference: CEO says Dogecoin will appear on crypto platform Coinbase in two months

Bitcoin has been considered a potential payment option from the beginning, but Dogecoin was primarily considered a joke. However, crypto has seen a tremendous increase since Musk adopted it as a meme and began tweeting about it earlier this year. “Saturday night live.”

Immediately after Thursday’s Mask tweet, the price of Dogecoin jumped from less than 43 cents to more than 50 cents per piece. Twenty-four hours after Musk announced the move of Tesla, Bitcoin fell from about $ 54,500 per coin to less than $ 50,000.

Musk clarified his comment “I strongly believe in cryptocurrencies, but I can’t significantly increase the use of fossil fuels, especially coal,” tweeted Thursday.

Tesla shares rose 3.1% in regular trading to $ 571.69 and then rose in after-hours trading. Stocks below Tesla’s 200-day moving average on Thursday for the first time in over a yearAnd now, as the S & P 500 Index, it has fallen 19% so far in 2021.
SPX,
+ 1.22%

It increased by 9.5%.



Elon Musk tweeted about Dogecoin and prices jumped quickly

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-741C-7F706728C7F8%7D&siteid=rss&rss=1 Elon Musk tweeted about Dogecoin and prices jumped quickly

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