Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

'Do you want Tesla to accept Doge?' Musk asks Twitter users

EconomyMay 11, 2021 09:17PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk looks on after arriving on the red carpet for the Axel Springer award, in Berlin, Germany, December 1, 2020. REUTERS/Hannibal Hanschke/Pool

By Subrat Patnaik and Bhargav Acharya

(Reuters) -Billionaire Elon Musk and cryptocurrency aficionado on Tuesday asked https:// his 54 million followers on Twitter "Do you want Tesla (NASDAQ:TSLA) to accept Doge?," referring to a digital currency worth roughly 48 cents with no real-world use.

The question, in the form of a Twitter poll, comes days after he called dogecoin a "hustle," sending the meme-inspired cryptocurrency's price reeling after a 700% rally in a month.

A proponent of digital currencies, the Tesla Inc chief executive made the comment as a guest host on the "Saturday Night Live" TV show this past weekend.

Musk is one of the world's richest people and owner of several futuristic companies, including SpaceX and Neuralink. He has used his candid Twitter feed to give his opinion on cryptocurrencies, including bitcoin, most times affecting their price.

In March, Musk said U.S. customers could purchase Tesla vehicles with bitcoin, marking a significant step forward for the cryptocurrency's use in commerce. The electric-car maker had bought $1.5 billion worth of bitcoin earlier this year, propelling its prices to record highs.

Based on current prices, one would need nearly 80,000 dogecoins or 0.7 bitcoin to buy the cheapest Tesla Model 3 car.

Dogecoin was last up 9% at $0.507, according to data tracker CoinGecko.com.

Musk's poll on dogecoin received over 3.3 million responses in the 12 hours since he posted it, with nearly 80% of the respondents voting to ratify the new payment method.

It comes just days after Musk said that SpaceX would accept dogecoin as payment to launch a lunar mission next year.

The limited supply of bitcoin helps drive its value as the digital currency gradually gains acceptance for commercial transactions. Whereas dogecoin, which began as a social media joke in 2013 with a shiba inu dog as its avatar, has an unlimited supply and remains seldom used to make payments for goods.

Dogecoin jumped more than 700% over the last month and is now the fourth-largest digital currency. It hit a record high Thursday above 73 cents.

The billionaire' s tweets have drawn SEC scrutiny in the past, but his recent remarks about cryptocurrencies have not landed in him in any regulatory troubles so far.

Shares of Tesla were down 1.3% at $621 a share in late trading on the Nasdaq after Reuters reported the U.S. electric car maker had halted plans to buy land to expand its Shanghai plant.

'Do you want Tesla to accept Doge?' Musk asks Twitter users
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (9)
Casino Crypt
CasinoCrypt May 11, 2021 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
bubbles everywhere in the casino. How do you program the software for shiny bubbles.
Gershom Zvi
Gershom Zvi May 11, 2021 9:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Just make sure you are getting real paper money by the end of your game
Anthony Anthony
Anthony Anthony May 11, 2021 9:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Do i still need to pay sales tax if buying with cat coin or dog coin?
Gershom Zvi
Gershom Zvi May 11, 2021 9:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Pay your tax to dog shelters
Don Getty
Don Getty May 11, 2021 5:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
only a little market manipulation going on here - on SNL he bad mouthed doge and it plummeted now he's asking if tesla should accept it - giving a boost - they should be asking exactly how much he currently has and be looking at his transactions going back a year!
Bruce Lewis
Bruce Lewis May 11, 2021 4:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
And for perspective, with BTC there are 21 million total tokens of which under 3 million remain unmined. With DOGE, the current supply is 129 billion, with 10,000 DOGE mined every MINUTE.
Rushabh Patel
Rushabh Patel May 11, 2021 4:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
agree
Gershom Zvi
Gershom Zvi May 11, 2021 4:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Did you try to mine Doge coin it is not do easy and does not make sence Why some kids for mining
Bruce Lewis
Bruce Lewis May 11, 2021 4:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
2/3 of the total DOGE supply is owned by 0.002% of wallets. There is over 70% of DOGE supply in the top 100 wallets. There is a reason that wealthy early investors are luring people into the market in a token with absolutely no utility. I am all for crypto, but DOGE is a true ponzi - self-proclaimed - it has absolutely no utility in the crypto space. I am not saying it will not go up more, but I think that DOGE is just being used to enrich the wealthy investors who got in at prices 90-99%+ lower and lots of retails will get hurt. If Musk really cared about the crypto space, he would be promoting blockchain technology and tokens with utility, not a joke token. So many more worthy tokens/projects that do not have their supply centralized in the hands of a few wealthy people.
John Conaghan
John Conaghan May 11, 2021 4:25PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
he is losing the plot
Joe Biden
Joe Biden May 11, 2021 4:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
My name is Joseph Biden and I am here to vote. If you ask me for ID you are a racist, like Corn Pop.
Gershom Zvi
Gershom Zvi May 11, 2021 4:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Cool !
Sam Donald
Sam Donald May 11, 2021 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
doge creators should put a supply limit so we can go to moon
Investing Man
Investing Man May 11, 2021 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stocks dont have a supply limit and they go to the moon all the time. Even when companies release stock by the hundreds of millions or billions.
Sam Donald
Sam Donald May 11, 2021 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
are you crazy? every company have a limited number of stocks
Fabrizio Fusaro
Fabrizio Fusaro May 11, 2021 10:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sam Donald really? Tesla just collected 15 billions by creating new shares thanks to people like you that bought it without even knowing what dilution means
Loki Kan
Loki Kan May 11, 2021 9:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
if he manages to make them to mainstream currency without government intervention, that will be huge if and only if the governments allow it
Investing Man
Investing Man May 11, 2021 9:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Theyd have to ban the trade of anything digital. They havent done it becaue they recognize that its impossible
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email