The CEO of Tesla and SpaceX has spurred the rise of the cryptocurrency last year, helping push it to all-time highs.
Elon Musk announced that his company SpaceX will start accepting payments in dogecoin.
This statement was made at the time of the largest cryptocurrency collapse.
Musk previously encouraged the price of the coin to rise, but since then, its price has fallen rapidly, and compared to last year, it has decreased by more than 70 percent.
“Tesla products can be bought with Doge, and soon SpaceX products,” Musk tweeted.
Tesla merch can be bought with Doge, soon SpaceX merch too
— Elon Musk (@elonmusk) May 27, 2022
The tweets caused the price of dogecoin to jump by 10%.
The cursor previously wrote that Elon Musk lost $ 24.5 billion in a day due to the fall in Tesla shares. American inventor and Tesla Motors CEO Elon Musk lost $24.5 billion in a single day, while shares in the electric car maker plunged more than 11%.
We also reported that Bill Gates said that Elon Musk could harm freedom of speech on Twitter. Musk has vowed to uphold free speech and “defeat spambots” at the site, which he calls a digital town square. But Gates said the Tesla boss could exacerbate misinformation about the platform.