Support Came From Elon Musk to the Dogecoin Update

Support Came From Elon Musk to the Dogecoin Update

Elon Musk, the founder of Tesla and SpaceX, showed his support for the Dogecoin update again. He approved the tweet of Billy Markus, one of the founders of the phenomenon coin, to move to Dogecoin Core 1.14. Musk previously stated that thanks to this update, transaction fees will be reduced, so that Dogecoin can be used more comfortably and intensively.

Announcing that technology companies are moving their headquarters from California to Texas. Recently stating that he wants to establish a car factory on Mars and see it before he dies, Elon Musk has again shown his support for the Dogecoin update.

Musk is also known for his interest in cryptocurrencies, especially Bitcoin and Dogecoin, and he clearly showed the two-way effect on prices with his tweets in the first and second quarters of 2021. Musk supported the tweet of Billy Markus, one of the founders of Dogecoin, who bought a car for himself by selling DOGEs in 2015.

Musk mentioned Markus’s tweet said,

“Nodes are important. They keep the network moving, validate transactions, and keep the blockchain up to date. It’s good to update to 1.14.4 which will allow for lower transaction fees.”

He replied to his tweet using the “approval emoji” and showed again that he was a kind of support.

“If you’re not running a Dogecoin node, you’re the devil,” Markus later wrote. Musk also responded to this tweet by saying “100%”.

He affected cryprocurrency values.

As it is known, Elon Musk tweeted about Dogecoin many times before 2021, but the arrival of similar tweets during the bull season caused the phenomenon of crypto money to experience tremendous increases. While both Bitcoin and Dogecoin prices rose with the influence of Musk until May, there was a great decline after the famous businessman’s tweet in May, “Bitcoin harms the environment, we are suspending Tesla’s acceptance of BTC”. The crypto community had a great reaction to Musk after this tweet.

In the B-Word event he attended in July, Musk announced that SpaceX and Tesla own Bitcoin. After this announcement, the price of Bitcoin increased from $30 thousand to $32 thousand.

Will Tesla accept payments with Bitcoin?

One of the most important questions about Musk is whether vehicle manufacturer Tesla will accept payment in Bitcoin again. The successful CEO stated that he hoped Tesla would make a decision in this direction again at The B Word event.

An important step to be taken in this sense may cause a serious price increase in cryptocurrency markets, especially Bitcoin.

DOGE, the 10th largest cryptocurrency by market cap, is trading at $0.22.

SEE ALSO: What is MetaMask Digital Wallet?

Share this article

Caroline Tetra

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

What is the Bid Price-Ask Price and Bid-Ask Spread?

Fri Oct 15 , 2021
Bid-Ask Spread expresses the difference between the buying and selling prices of any traded security. Bid is the price at which market participants are willing to buy assets (such as foreign exchange, security) traded in the market. In every transaction made in the financial markets, there is the logic of […]
What is the Bid Price-Ask Price and Bid-Ask Spread?
Subscribe to Our Newsletter Don't miss the latest news!

Enter to get a chance to win 100$ every week!