Tag: Bitcoin

Another Episode in the Saga of Dogecoin & Elon Musk
By Michael Lozina / 17 May 2021

Another Episode in the Saga of Dogecoin & Elon Musk

Recently, billionaire Elon Musk announced that Tesla would no longer accept Bitcoin as payment. This sent the value of Bitcoin plummeting having lost more than 20% over the last week. Musk claims that the reason for this decision was due to Bitcoin’s high amount of energy consumption. Musk has instead given preference to meme-currency Dogecoin whose energy consumption is just 7% of Bitcoin. It’s another episode in the saga of Elon Musk and Dogecoin.