Electric car maker Tesla CEO and dogecoin fanatic, Elon Musk, wants the Coinbase exchange to end its “DOGE not allowed” policy and list the meme-based cryptocurrency.
Musk tweeted an exclamatory “Yes” on Saturday after a Twitter user asked the billionaire investor if Coinbase should enable the cryptocurrency represented by Shiba Inu on its platform.
A listing on Coinbase would expose dogecoin to a new generation of investors and thus unlock its potential. This is because the stock exchange regulated by the USA is considered synonymous with institutional investors and high net worth individuals. Tesla bought $ 1.5 billion bitcoin in February through Coinbase.
To date, dogecoin is changing hands close to $ 0.059, representing a 6.7% gain on a 24-hour basis. Prices rose more than 600% in January alone and have risen almost 1,130% so far this year. Bitcoin, meanwhile, has risen more than 100% year-to-date, according to data from CoinDesk 20.
DOGE adoption has increased in recent weeks, with players like the Dallas Mavericks basketball team accepting the cryptocurrency as payment for tickets and merchandise.
Leading sports brand Wooter Apparel and medical device supplier CovCare recently announced support for dogecoin as an alternative payment method.