Elon Musk Posts a Twitter Poll about Whether Tesla should Accept Dogecoin

On 11 May, 2021, Tesla CEO Elon Musk asked his 54 million Twitter followers “Do you want Tesla to accept Doge?”

As of press time, nearly 80% Twitter users voted for “Yes” among 3,922,516 votes. In addition, some users even suggested making SHIB a method of payment for Tesla.

The Twitter poll comes just days after the Tesla and SpaceX chief called Dogecoin a “hustle” during his guest host appearance on Saturday Night Live – a United States comedy sketch show,  which sent the meme-inspired cryptocurrency's price reeling after a 700% rally in a month.

Musk, one of the richest people in the world and owner of several futuristic companies including SpaceX and Neuralink, has used his candid Twitter feed to convey his opinion on cryptocurrencies, including bitcoin, most times impacting their price.

In March, Musk said US customers could purchase Tesla vehicles with bitcoin, marking a significant step forward for the cryptocurrency's use in commerce. The electric-car maker had bought $1.5 billion worth of bitcoin earlier this year, propelling its prices to record highs.

Musk's poll on dogecoin received over 2 million responses in five hours since he posted it, with three out of every four respondents voting to ratify the new payment method.

It comes just days after he said that SpaceX would accept dogecoin as payment to launch a lunar mission next year.

The limited supply of bitcoin helps drive its value as the digital currency gradually gains acceptance for commercial transactions. Whereas dogecoin, which began as a social media joke in 2013 with a shiba inu dog as its avatar, has an unlimited supply and remains seldom used to make payments for goods.

On crypto data tracker CoinGecko.com, dogecoin jumped more than 700% over the last month and is now the fourth-largest digital currency. It hit a record high Thursday above $0.73.