Story at a glance
- The poll had more than 2.5 million responses with more than 77 percent saying Tesla should accept the cryptocurrency.
- Musk has been credited by many for the surge in Dogecoin’s value, which has increased from a fraction of a cent to up to 70 cents.
- On Sunday, Musk announced his private rocket company SpaceX will be launching a satellite called DOGE-1 on a mission paid for entirely with Dogecoin.
Billionaire and Tesla CEO Elon Musk on Tuesday reached out to his Twitter followers to ask whether the electric car company should accept the meme cryptocurrency Dogecoin for payment.
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
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As of Tuesday morning, the poll had more than 2.5 million responses with more than 77 percent saying Tesla should accept the cryptocurrency that has been championed by Musk and has increased more than 26,000 percent over the last six months.
Musk has been credited by many for the surge in Dogecoin’s value, which has increased from a fraction of a cent to up to 70 cents.
Dogecoin was started as a joke in 2015 when the cryptocurrency boom was in its infancy. It works much like Bitcoin and enables peer-to-peer transactions across a decentralized network.
The cryptocurrency bears the image of a shiba inu dog as its avatar.
On Sunday, Musk announced his private rocket company SpaceX will be launching a satellite called DOGE-1 on a mission paid for entirely with Dogecoin. SpaceX is teaming up with Canadian company Geometric Energy Corporation to send a satellite to the moon to “obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”
The mission is expected to launch in 2022.
Recently, MLB franchise the Oakland A’s and NBA team the Dallas Mavericks began accepting Dogecoin as payment for tickets.
Earlier this year, Tesla began accepting Bitcoin, which is currently the world’s largest digital currency, for purchase of its electric vehicles.
While Bitcoin is seen as a viable currency as it has a limited supply, Dogecoin has been criticized because there’s no limit on how many Dogecoins can be created and it’s rarely used as a form of payment.
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