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Elon Musk runs Twitter poll on whether Tesla should accept Dogecoin

Elon Musk runs Twitter poll on whether Tesla should accept Dogecoin
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

Elon Musk has started a Twitter poll asking whether or not Tesla should accept dogecoin (DOGE, -2.48%).

  • The poll had received more than 500,000 votes within 20 minutes of its posting, with the overwhelming majority (~75%) replying "Yes."

  • The Tesla CEO appeared on "Saturday Night Live" on May 8 in which some jokes about DOGE triggered a downturn in the meme-based crypto's price.

  • Elon Musk has been known previously to discuss crypto on his Twitter page, first announcing via a tweet in March that Tesla vehicles could be purchased with bitcoin.

  • He famously described DOGE as his "fav cryptocurrency" on Twitter in April 2019.

  • Thanks in part to Musk's tweets, the price of dogecoin has risen by nearly 11,000% year to date.

  • The poll has prompted a bounce in DOGE's price, trading at $0.52 at the time of writing compared to $0.46 beforehand. 

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CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

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