Most Read from Bloomberg
Cannabis Compounds Prevented Covid Infection in Laboratory Study
Frequent Boosters Spur Warning on Immune Response
Supreme Court Blocks Biden's Shot-or-Test Rule for Workers
Say Goodbye to Self-Isolating, WFH Mandates, Mass Testing
Djokovic's Australian Visa Canceled Again in Public Interest
Dogecoin, the cryptocurrency with a Shiba Inu meme founded in 2013, surged on Friday after Elon Musk said on Twitter that it could be used to buy Tesla Inc. merchandise.
The meme coin was up about 15% over the past 24 hours to around 20 cents as of 10 a.m. in New York, according to pricing from CoinGecko. It was a standout on a day when other cryptocurrencies from Bitcoin and Ether to Solana and Polkadot remained relatively flat.
Musk, a frequent booster of Dogecoin on social media, has hinted at the move for some time. In addition, numerous reports in recent days had indicated that source code on Tesla's website included an option for Dogecoin payments.
Billy Markus, Dogecoin's co-creator, tweeted earlier Friday with an image that appeared to show a Cyberwhistle available for a price of 300 Dogecoin.
(Updates the token price in the second paragraph.)
Most Read from Bloomberg Businessweek
For Macron and France, It's the Economy, Stupide
A $13 Billion Bet That Air Travel Will Soon Take Off
Central Banks, Not Covid, Will Drive Global Economies in 2022
America's Electric Vehicle Selection Is About to Get a Lot Wider
China Faces Mounting Economic Damage From Its Covid-Zero Policy
©2022 Bloomberg L.P.