Musk: You can use Dogecoin to buy Tesla products! The Dogecoin short term pull-up is a one-time 20% increase.

On Tuesday evening Beijing time, Tesla CEO Elon Musk said that in the future Dogecoin will be able to purchase certain Tesla products.

After the announcement, Dogecoin increased the short term duration by 20% in 24 hours.

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On November 12, the CEO of AMC Cinemas announced in a press release that AMC now supports payments in Bitcoin, Ethereum, Bitcoin Cash and Litecoin.Dogecoin will be the next payment target.. According to US brokerage firm Robinhood, Dogecoin transactions accounted for 40% of cryptocurrency sales in the quarter.

Musk said on October 25:

“I told a lot of people that there is a Dogecoin on the Tesla production line or in the SpaceX rocket team. They are not financial pundits or Silicon Valley pundits, so I decided, "It is important that things like buying movie tickets using Dogecoin can be done."

Musk was recently named to Time Magazine's "People of the Year 2021" and once expressed his support for Dogecoin in an interview. Musk says:

"Basically, Bitcoin is not a good alternative to the currency market. Dogecoin is designed to be a bad joke, but Dogecoin is a necessary alternative for the market."

He added:

“Bitcoin's trading volume is very low and the price of each exchange is high. Because Bitcoin is more valuable than the stock market, traders want to hold it rather than sell it or use it safely. "

Bitcoin fell below $ 46,000 a coin on Tuesday morning and has fallen more than $ 20,000 in recent times from its November high of $ 69,000. According to data from Blockchain Tracker Blockchain.com, as of the morning of the 13th, 90% of all Bitcoin transactions (around 21 million) have been mined. a piece.

According to a report by Bitcoin statistics website Coindesk, based on the estimated network and the "Bitcoin Halving" plan, it is estimated that it will take almost 120 years for the remaining 2.1 million bitcoins, of which 10% do not have not been checked out, be mine. . Until 2140. It can only be completed in February.