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One tweet catapulted the Dogecoin trajectory to the top

One tweet catapulted the Dogecoin trajectory to the top

Dogecoin was created in 2013 as a parody of the Doge internet meme, which then dominated the internet. Mem Doge is based on pictures of the Shiba dog breed complemented by a funny inner monologue.

However, in recent years, the currency has strengthened significantly, although, of course, more popular cryptocurrencies, such as Bitcoin or Ethereum, cannot compete. However, Musk does not hide the support of the Dogecoin, in the past he has been interested in the growth of this cryptocurrency several times. According to Coinbase, a server that monitors the prices of individual cryptocurrencies, it was only his tweets that could grow by 5,793 percent last year.

Elon Musk

Photograph: Hannibal Hanschke, Reuters

And that’s exactly what happened on Tuesday, when Musk confirmed on Twitter that Tesla would start accepting dogecoin payments. One virtual coin was worth 3.56 CZK before her tweet, but then rose to 4.86 CZK, more than 30 percent. On Wednesday morning, the Dogecoin was trading for 4.02 CZK.

“Tesla will provide some goods to buy a dog. We will see how it goes,” Musk wrote on Twitter, where he has about 66.4 million followers. It is not known what specific things Tesla can buy for this cryptocurrency, but electric cars should not be.

Bitcoin and other virtual currencies

There are many virtual currencies. One of the oldest and most popular currencies currently is the so-called bitcoins. It was established in 2009, but has gained more popularity in recent years. This currency is designed so that it cannot be influenced by any government or central bank.

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Cyber ​​coins “mint” a network of computers with specialized software programmed to issue new coins at a steady but declining pace. It is expected that the number of coins in circulation will eventually reach 21 million, which is about 2140.