Then was Elon Musk Cue to Dogecoin short-term pull up during the day once rose 20%

Source: Golden Ten Data

On Tuesday evening, Musk said that in the future, Dogecoin will be able to use Dogecoin to buy some Tesla peripheral products.

On Tuesday evening Beijing time, Tesla CEO Elon Musk said that in the future, Dogecoin will be used to purchase some Tesla peripheral products.

November 12 AMC Cinema Line CEO said on social media on Thursday that AMC currently supports Bitcoin, Ethereum, Bitcoin Cash and Litecoin payments, and Dogecoin will be the next target payment method. According to U.S. stock broker Robinhood, Dogecoin trading accounted for 40% of cryptocurrency revenue in the third quarter.

Musk said on Oct. 25: "I've had conversations with a lot of Dogecoin-holders on Tesla's production lines or on the SpaceX rocket construction team. They're not financial experts or technologists in Silicon Valley. That's why I decided to support Dogecoin – it's like a cryptocurrency that belongs to people. It's important to reduce Dogecoin's transaction fees, which makes things like buying movie tickets (using Dogecoin) feasible. ”

Recently, Musk was named "2021 Person of the Year" by Time magazine in the United States, and in the interview, he once again expressed his support for Dogecoin. Musk said: "Fundamentally, Bitcoin is not a good alternative to trading currencies. Although Dogecoin was coined as a silly joke, Dogecoin is better suited for trading. ”

He added: "Bitcoin transaction volumes are low and the cost per transaction is high. Bitcoin is more suitable as a store of value, which is why its investors want to hold it rather than sell it or use it for trading. ”

Bitcoin briefly fell below $46,000 in the early hours of Tuesday morning, and has been on the recent downturn, more than $20,000 away from the November high of $69,000. According to data Blockchain.com blockchain tracker, as of the morning of the 13th, 90% of the total supply of bitcoin (about 21 million) has been mined, which means that the circulation of bitcoin in the market is about 18.9 million.

According to Bitcoin statistics website CoinDesk, according to network estimates and the "Bitcoin Halving" program, the unmined 10%, or the only 2.1 million bitcoins left, is expected to take nearly 120 years to mine until February 2140.