Elon Musk, CEO of electric car maker Tesla, tweeted on Thursday that he was working with developers of dogcoin to improve the efficiency of the system, a day after announcing that he would suspend bitcoin payments, according to foreign media reports.

It is reported that this tweet has caused the price of dogcoin to rise sharply. According to coingecko, the dog coin is the fourth on the list, with a 24-hour increase of 10.4% and a current price of $0.47.

The day before, on Wednesday, musk tweeted that Tesla would suspend bitcoin payments for environmental reasons.

"We are concerned about the rapidly increasing use of fossil fuels, especially coal, which has the most serious greenhouse gas emissions of all fuels, in the mining and trading of bitcoin," he said. Cryptocurrency is a good idea on many levels, and we believe it has a bright future, but not at the expense of the environment. "

He added that Tesla would not sell the bitcoin it owned and that it intended to trade it again after mining turned to sustainable energy.

It is reported that musk has been a supporter of cryptocurrencies such as dogcoin and bitcoin. Previously, he has repeatedly mentioned dogcoin and other cryptocurrencies on twitter.

In March, he tweeted that Tesla now accepts bitcoin payments. In other words, the company's electric cars can be purchased with bitcoin. However, in the face of strong protests from some environmentalists and investors, the company's position has changed.

On May 9 this year, SpaceX, another company owned by musk, announced that it would accept Dog Coin payment. On the same day, musk said that the company plans to launch the doge-1 lunar mission in the first quarter of next year, and the cost of the mission will be paid through dogcoin.

As for whether Tesla will accept dog coin as a new payment method, it is still unclear. But musk launched a vote on twitter on Tuesday asking fans if they want Tesla to accept dogcoin as a new payment method.

As a result, nearly 80% of the people voted for Tesla to accept dog coin as a way of payment, while about 20% said they did not support it.

Dogcoin was founded in 2013, and its logo is a Chaigou. It is a kind of cryptocurrency, much like bitcoin, which can conduct point-to-point transactions on a decentralized network.

With Musk's strong support, the price of dogcoin has soared by more than 10000% this year, but it is also in dispute.

(2021-5-15)