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Coinbase listing and buying Tesla with Doge could cause the price to skyrocket

Coinbase listing and buying Tesla with Doge could cause the price to skyrocket

Tesla Chief Executive Elon Musk indicated Thursday that dogecoin might be used as a viable substitute for bitcoin, only a day after announcing that Tesla Inc. would stop taking bitcoin as payment for its vehicles.

Coinbase, a cryptocurrency trading website, has agreed, after a long period of silence from the throngs pleading with the corporation to let them exchange Dogecoin.

These two movements alone are enough to send Dogecoin’s price soaring and make you a millionaire.

“Working with Doge devs to improve system transaction efficiency,” Musk tweeted. “Potentially promising.”

The meme-inspired cryptocurrency will be added to Coinbase, lending credibility to the coin which had an infinite supply that whales might probably crush at any time with a whale-sized spill.

Coinbase CEO Brian Armstrong said on a call with investors on Thursday that the company plans to list it in six to eight weeks.

Since bitcoin BTCUSD, -3.46 percent suffered a big knock in the aftermath of Wednesday’s launch, Dogecoin DOGEUSD, +6.11 percent rates shot up.

The acquisition of $1.5 billion of bitcoin by Tesla TSLA, +3.16 percent, and adoption of bitcoin as a payment alternative was seen at the time as a symbol of growing institutional acceptance of cryptocurrencies.

Coinbase has been missing out on valuable, which has piqued the interest of Doge supporters. Doge currently has a heart-stopping trading volume and a current market value of $72 billion, which is more than 77 percent of firms on the S&P 500.

Armstrong didn’t only announce Doge’s coming presence to the platform. He also made the following wild assertion.

“I think it’s going to be something, kind of, like apps in the App Store or on the iPhone where there’s eventually millions of these assets created over time and so we’re putting a lot of work and thought into how do we accelerate our pace of asset addition, and one of those is Doge, as you mentioned, which has been getting a lot of attention recently”.

Musk asked whether Tesla should consider dogecoin as payment in a poll on Twitter last week. About 80% of the nearly 4 million votes cast were in favor.

But that hasn’t prevented it from being a successful win for holders and investors, with Coinbase listing and Tesla approving the digital coin. And we stand by our original prediction that Doge will soon be worth $2 per coin.

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