Is Musk now interested in Dogecoin?Yesterday, on May 13, 2021, Elon Musk tweeted that Tesla has suspended the use of Bitcoin as a payment method to purchase the vehicle. He stated that the reason for this decision was the increasing use of fossil fuels for the transactions and mining of Bitcoin.He continued that although cryptocurrency has a great future, but not at the cost of the environment. He further clarified that Tesla is not going to sell any Bitcoin and will also look at other cryptocurrencies using less energy per transaction.He also attached the screenshot of energy consumption which stated that the estimated Bitcoin electricity consumption on May 10, 2021, was nearly 148.77 TWh. The upper and lower bound consumption was 511.75 TWh and 46.56 TWh, respectively.On May 14, 2021, Musk again tweeted that he believes in crypto, but the considerable increase in consumption of fossil fuels can\u2019t be tolerated.To be clear, I strongly believe in crypto, but it can\u2019t drive a massive increase in fossil fuel use, especially coal.@elonmusk, May 14, 2021Soon after this tweet, he again tweeted that Doge seems quite promising in improving the transaction efficiency of the system.Working with Doge devs to improve system transaction efficiency. Potentially promising.@elonmusk, May 14, 2021People are indeed taking this tweet seriously and taking it as a hint to adopt Dogecoin now.#Dogecoin is the future of cryptocurrency of Earth!!A Twitter user (@MattWallace888), May 14, 2021It is the time that people stop saying DOGE is a joke and start saying it was a joke. It is real, and it is here to stay!A Twitter user (@positravelty), May 14, 2021Another thing which can be noticed is that the price of DOGE has started to climb up soon after Musk\u2019s tweet. It is currently priced at $0.53. On the contrary, the price of Bitcoin\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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