Elon Musk and Dogecoin
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$107,078.00
-0.23%$2,650.72
0.63%$2.28
0.82%$681.23
-0.27%$169.92
-0.24%$0.999788
0.00%$0.219971
0.26%$0.738051
-0.73%$0.27623
0.51%$2,647.12
0.55%$106,925.00
-0.29%$3.57
-0.02%$3,185.01
0.28%$31.84
-7.13%$15.39
-0.51%$22.80
-0.71%$0.28366
0.42%$3.41
-0.60%$9.07
0.12%$0.00001418
0.66%$412.39
1.20%$0.181737
-0.84%$95.89
1.17%$0.99979
-0.01%$2,656.98
0.73%$4.50
0.05%$2,833.79
0.64%$340.23
-2.33%$5.24
0.30%$1.00
0.14%$0.00001376
1.23%$0.999798
-0.12%$0.705636
-3.17%$107,089.00
-0.35%$31.42
-0.36%$6.80
1.52%$256.12
-3.28%$423.94
-1.29%$2.84
1.64%$5.32
1.13%$52.03
-0.03%$204.87
-0.22%$36.65
-5.89%$1.00
0.00%$0.91599
-0.94%$1.17
-0.09%$0.096494
-0.48%$5.35
1.83%$18.40
1.08%$0.097882
-3.45%$20.17
-1.57%$12.11
-1.25%$0.700117
-2.88%$1.053
-0.02%$0.02646078
-1.74%$0.87125
0.18%$4.34
-0.19%$0.38349
1.22%$4.78
1.48%$1.00
0.03%$1.33
0.71%$0.228778
0.71%$106,935.00
-0.22%$0.410821
2.47%$4.43
-0.12%$2.82
-0.32%$0.213383
-1.05%$0.580256
-2.63%$2.56
-1.27%$112.79
-0.33%$0.999541
0.07%$2,657.23
0.73%$4.59
-0.05%$179.23
-0.16%$0.00001944
-1.37%$2.25
-2.50%$11.31
-0.24%$0.440451
0.28%$14.20
-3.06%$0.754166
-2.21%$1.00
0.04%$2,770.52
0.95%$0.8342
-2.49%$3,014.55
0.62%$1.25
-2.98%$1.24
-0.77%$4.24
-0.82%$0.01808616
-1.77%$0.22014
-0.01%$0.621821
-0.26%$0.743947
-1.00%$1.079
-0.29%$0.108152
-0.03%$1.11
14.58%$0.063
-1.78%$106,810.00
-0.63%$0.746271
-0.30%$0.99978
0.10%$2,820.22
0.44%$0.00009981
0.37%$1,669.51
-0.96%$220.32
-0.31%$681.11
-0.28%$107,002.00
-0.42%$2,789.71
0.78%$54.48
5.77%$2.99
-2.25%$2.69
-0.78%$0.999167
-0.07%$189.09
-0.20%$1.00
-0.01%$0.851023
-0.84%$0.01904111
-0.80%$0.01731813
2.30%$107,399.00
0.09%$0.922611
2.18%$2,777.14
0.74%$3,324.03
0.71%$14.16
14.27%$3,334.51
0.68%$0.787955
-3.54%$23.54
1.52%$0.202761
-1.19%$0.131684
-2.54%$0.01180546
-3.85%$0.302143
-0.09%$0.554043
2.21%$36.00
0.91%$0.00000073
0.78%$4.40
-1.02%$106,317.00
-0.28%$0.99987
-0.00%$0.11386
0.83%$3.61
-0.91%$0.62743
0.92%$111.22
0.01%$1.85
-3.33%$0.064814
-0.82%$1.002
0.43%$0.395455
-0.34%$2.02
-0.15%$1.85
-2.35%$0.01769709
-2.82%$1.10
1.47%$2,652.93
1.00%$0.588122
3.10%$2.13
-2.36%$2,652.97
0.83%$0.305642
-0.04%$0.719707
2.38%$0.216053
6.82%$0.220617
0.35%$2,752.15
0.97%$2,822.30
0.37%$2.24
1.95%$107,017.00
-0.23%$2,656.93
0.73%$1.65
7.82%$0.00503843
-1.44%$17.60
-1.62%$1.10
0.07%$0.422385
-0.29%$0.999009
0.03%$0.62634
0.65%$107,149.00
-0.28%$7.34
0.45%$0.154781
-2.85%$0.576524
0.52%$6.57
1.10%$0.050913
0.33%$0.00802089
-2.70%$0.999713
-0.00%$2.84
0.97%$0.421982
0.18%$0.00563187
27.59%$0.063421
2.72%$1.38
2.50%$0.687866
0.54%$0.097476
-2.36%$0.087792
0.96%$0.00000113
0.58%$0.00002187
0.94%$104,851.00
-0.06%$0.00000043
0.22%$0.171083
-1.52%$32.14
-6.14%$0.392213
-7.24%$0.164504
-0.59%$0.428409
-3.18%$2,651.08
1.10%$0.0431362
-0.84%$1.009
0.35%$1.089
0.01%$36.56
-0.97%$0.00746182
0.01%$1.42
-1.01%$2,808.30
0.39%$1.43
-2.64%$0.999893
0.03%$42.55
1.04%$0.386308
-2.67%$0.999089
-0.07%$1.00
-0.02%$0.00446576
-1.15%$0.01952821
0.72%$0.00409418
-4.39%$0.386113
0.20%$2,917.15
0.81%$136.77
1.16%$0.147938
-7.18%$106,888.00
-0.45%$0.616302
7.04%$0.00510611
0.15%$2,896.76
0.74%$0.838273
-1.35%$0.228547
0.58%$0.03492673
-0.20%$0.764306
-0.76%$32.08
-6.19%$106,888.00
-0.39%$0.00006186
-0.88%$2.80
1.58%$0.00376097
-1.71%$2,653.63
0.52%$0.23841
3.63%$19.80
-0.26%$0.32446
0.50%$2,644.74
0.39%$0.338683
-0.40%$184.20
-0.08%$2,868.81
0.57%$0.00000155
-2.53%$0.999126
-0.03%$22.86
-0.84%$0.999346
0.15%$0.999968
-0.00%$0.766779
1.11%$0.669895
-0.37%$0.276389
-4.65%$0.242513
-1.42%$18.04
-0.11%$2.65
-0.02%$23.52
-0.91%$3.16
-0.54%$0.00279875
-2.63%$0.999682
-0.01%$189.22
-0.43%$0.999658
0.01%Reading
Elon Musk, Tesla CEO, has announced via Twitter that Tesla will begin accepting Dogecoin as payment for merchandise.
"Tesla will make some merch buyable with Doge & see how it goes," Musk tweeted.
The news comes a day after Elon Musk was announced as Time Magazine's Person of the Year for 2021.
Since this news broke, Dogecoin's price has surged by 19.5% on the day.
The Tesla CEO has a long and well-established relationship with meme cryptocurrency Dogecoin.
In May of this year—around the same time he reversed course on Bitcoin—Musk said that Dogecoin could beat Bitcoin "hands down."
He proposed a reform of sorts for the cryptocurrency which would entail speeding up its block time and block size, and also decreasing fees by 100x.
These aren't just empty words from Musk, either. The Tesla CEO has been working with Dogecoin developers to try and improve the cryptocurrency, in a bid to make it cheaper and more energy-friendly than Bitcoin—the crypto industry's flagship asset.
In April, Musk even called himself "The Dogefather" when he announced that he would be appearing on Saturday Night Live on May 8, 2021.
Dogecoin has also benefited from Musk's interest in the meme cryptocurrency. In October, Dogecoin's price surged after Musk replied to a tweet predicting he'd become the world's first trillionaire.
"*In Dogecoin," Musk said.
Data from the Blockchain Research Lab has actually shown that Musk's positive-Dogecoin tweets have actually sent the meme cryptocurrency surging by almost 20%.
This, in turn, raises some ethical questions for the newly appointed Time Magazine Person of the Year.
"Our results lead to the question under which conditions people in the public eye should comment on specific cryptocurrencies," Lennart Ante, a researcher at the Blockchain Research Lab previously told Decrypt.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
SOL Strategies, a Canadian public company focused on the Solana blockchain, has filed a $1 billion preliminary short-form base shelf prospectus as it doubles down on its investments in the world's sixth-largest crypto. The company said the move aims to provide it with increased “financial flexibility” to capitalize on emerging opportunities within the Solana ecosystem, according to a filing on Tuesday. In other words, the move will allow SOL Strategies to prepare for potential capital raises, al...
Eric Trump and Donald Trump Jr. bashed the traditional finance system and championed the U.S.' pro-crypto pivot and their own digital asset endeavors on Wednesday at the Bitcoin 2025 conference in Las Vegas—underscoring the Trumps' growing enmeshment with the cryptocurrency community, despite critics' concerns over conflicts of interest posed by the First Family's embrace of the industry. The two eldest sons of U.S. President Donald Trump touted the U.S.' foray into Bitcoin and other cryptocurr...
Online trading platform eToro announced on Wednesday that it has added 12 cryptocurrencies to its U.S. platform, expanding its digital asset offerings in the country after sharply scaling back its presence last year due to regulatory constraints. The new tokens available to U.S. users include Cardano, Dogecoin, XRP, and Shiba Inu, among others, bringing the total number of listed assets from three to 15. These tokens join Bitcoin, Ethereum, and Bitcoin Cash, the only crypto assets the firm offe...