Dogecoin: Elon Musk Wants to Know If Tesla Should Accept It or Not
He asked Twitter whether Dogecoin should be accepted by Tesla
Elon Musk is no stranger to trying out new things and doing things no one has thought of yet. He proved it once again when he asked via Twitter whether he should start accepting Dogecoin to let customers buy Tesla vehicles. Obviously, it increased the hype around the cryptocurrency once again.
On Tuesday, Elon Musk started an interesting survey. He asked the users whether Dogecoin (which is currently No. 4 most valued digital asset around the world) should be accepted by Tesla or not. The survey had 2.3 million votes at the time of writing this article. As per the survey, 77% of responders said that using Dogecoin to pay for Tesla vehicles is a smart move, while others were not too fond of the idea.
Updated tweet of Elon Musk on Tesla accepting Dogecoin
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
This is not the first time Elon Musk has favoured this unique method of payment. He has talked about Dogecoin often in the last few weeks. It is one of the key reasons why there was a surge in crypto. As per data, it has risen about 10000% so far this year only.
For those who are unaware, Dogecoin works like Bitcoin. It is a digital token that is underpinned by a decentralised network of computers. These computers process as well as keep track of transactions thanks to a digital ledger that is called a blockchain. A simple thing that makes Dogecoin different is that it has been considered more of a joke than bitcoin (whose backers have highbrow arguments to support it.)
There are a few reasons people are attracted to Dogecoin, except the star power of Elon Musk. First is that people think buying it is exciting. Another is that it gives them something to do which they can then talk about to their friends. Third, it allows them to make a quick buck.
This is not the first time the Tesla boss has hyped a cryptocurrency. Elon Musk has earlier hyped bitcoin too, and it reached an all-time high when he said it could be used to buy Tesla vehicles in the future. In other related news, Elon Musk plans to send Dogecoin to the moon by using his company SpaceX.
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