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Seeking Alpha 2021-05-11 11:31:50

Dogecoin bounces up after Musk asks if Tesla should accept the cryptocurrency

Dogecoin (DOGE-US) rose to as high as ~54 cents from around 46 cents after Elon Musk posted a survey on Twitter asking whether Tesla (TSLA) should accept the cryptocurrency for payments.About three hours after the post, ~1.75M votes had been cast.If Tesla decides to accept dogecoin, it would be the second crypto that the company honors. In March, Musk announced the electric car maker would accept bitcoin for payment. And that came after the company purchased $1.5B of bitcoin in February to keep on its balance sheet.Dogecoin is now trading at ~51 cents, bitcoin falls ~3.9% to $55.9K and ethereum -0.6% at $4,049.91.In the wake of Musk's appearance on Saturday Night Live, where he called the crypto "a hustle," dogecoin had fallen as much as 46%.

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