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Elon Musk Throws Dogecoin a New Lifeline

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“Tesla merch can be bought with Doge, soon SpaceX merch too,” Friday tweeted CEO Elon Musk, throwing a new lifeline to struggling Dodgecoin.

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Dogecoin quickly rose 7% to as high as 8.3 cents per coin before giving up some of its gains.

But not all of Musk’s followers favor his move to sell Tesla and SpaceX merchandise with Dogecoin.

“Elon, while I am a big fan of capitalism since America invented it, I don’t support accepting glorified online Chuck E Cheese tokens for your merchandise. Cryptocurrency isn’t real money. The US Dollar is the most valuable currency on earth,” wrote one of his Twitter followers, named Three Year Letterman.

Others say the best thing about the dollar is you can trade it in for a dollar’s worth of gold at the treasury. It’s backed by something real, unlike bitcoin.

“Hate him or love him, but there’s no doubt that Elon Musk is one of the greatest influencers and innovators of the 21st century,” said Tammy Da Costa, an analyst with DailyFX. “With his extravagant ideas and his ‘subtle’ innuendos, Tesla’s CEO and founder of SpaceX also played a major role in promoting the adoption of bitcoin as a means of payment, driving the price of the original crypto just below the $65,000 handle in April last year.”

In an article, published in TheStreet.com, Tony Owusu reminds the readers that Musk has suggested that Twitter could improve by adopting a subscription model, which he called Twitter Blue and that subscribers should be able to pay in dogecoin.

#ElonMusk
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Elon Musk and Dogecoin relationship. Elon Musk and Dogecoin 2022. Dogecoin jumps on Elon Musk SpaceX Tweet. Tesla and Dogecoin.

This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.

Reference
Elon Musk https://twitter.com/elonmusk/status/1530209049261658112
The Street https://www.thestreet.com/investing/elon-musk-throws-dogecoin-a-lifeline

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11 Comments

  1. Most likely the price will be higher at the end of the year. So I just keep buying doge on bfx

  2. Although< I have interests in global economics I don't watch the news anymore… I have enough FUD. Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. You're right about keeping level headed when investing so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present has enough to know issues going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over 17` btc from day trading with Joe Schmitt Signal in few weeks, this is one of the best medium to backup your assets incase it goes bearish…. For crypto related issues Joe Schmitt can be reached on ͲeIєɠɾαm👉Schmittsignal.

  3. Can you make a video explaining how beginners can make huge profit within a short period of time? I mean i was at a seminar and the host spoke about making well over $880,000 within 4months of investing $150,000 i just need to know how.

  4. Ive watched for years brother, love the content. My son and I just nearly died laughing at your pronunciation of doge! We are into cars, and mopars. We suggest calling a doge 1cent a neon, 5c a Volare, $100 would of course be a Cuda, 3 bills a C, and the special $1000 bill should be the new Yorker!

    Joking of course, it made for a great laugh!

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