Elon Musk working with Dogecoin to improve transaction efficiency

Tesla will no longer accept Bitcoin to buy cars, Tesla CEO Elon Musk said on the social platform Twitter today that he is working with Dogecoin. Developers cooperate to improve transaction efficiency, “may be very promising.

” Affected by this news, Dogecoin has risen 8% in 24 hours and is now quoted at $0.49 per coin. Musk previously stated that Tesla is concerned about the “rapidly increasing use of fossil fuels” for Bitcoin mining and trading.

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Musk said: “Cryptocurrency is a good idea in many ways. We believe it has a prominent future, but this cannot be achieved at a huge environmental cost.”

Musk also said in a different tweet: “To put it bluntly, I firmly believe in cryptocurrency, but it cannot promote the massive increase in the use of fossil fuels, especially coal.”

Musk has mentioned Dogecoin on Twitter many times, causing the price of the cryptocurrency to rise sharply in 2021.

(Via)