What did Elon Musk say?
- Musk said in a tweet: “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
- “Cryptocurrency is a good idea ... but this cannot come at great cost to the environment.”
What happened to Dogecoin?
- Dogecoin dropped down to $0.50 not long after Musk described Dogecoin as a “hustle” on “Saturday Night Live,” as I explained for the Deseret News.
It’s unclear what will happen for Dogecoin moving forward. Social media has already kicked off a campaign for Tesla to accept Dogecoin and to replace Bitcoin as a form of currency for the car company.