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Dogecoin Sees Massive Rally as Tesla & Elon Musk Embrace It For Payments
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Dogecoin (DOGE) saw a sharp rally in the market today, after Tesla's CEO Elon Musk said his company “will make some merch buyable” with the meme coin.
The surprising statement was published on Twitter by Elon Musk Tuesday morning, causing an immediate surge higher in the price of DOGE.
The statement today follows comments from Musk during an interview with Time that was published yesterday, where the outspoken CEO said that bitcoin (BTC) “at least at its base layer is maybe suitable as a store of value." However, he added that it is “not a good substitute for transactional currency.”
“Even though it was created as a silly joke, dogecoin is better suited for transactions,” Musk said.
The comments have so far (as of 12:00 UTC) led to a spike of
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