Elon Musk<\/p>\n
wants<\/p>\n
McDonald\u2019s<\/a> Corp.<\/span><\/p>\n to start accepting dogecoin for payment.\u00a0<\/p>\n \u201cI will eat a happy meal on tv if @McDonalds accepts Dogecoin,\u201d Mr. Musk, chief executive of<\/p>\n Tesla<\/a> Inc.,<\/span><\/p>\n said in a tweet<\/a> Tuesday morning. He has repeatedly touted dogecoin, including earlier this month when he said Tesla would accept the cryptocurrency for payment<\/a> for some merchandise.<\/p>\n The price of dogecoin rose 7% on Tuesday, according to CoinMarketCap.\u00a0<\/p>\n McDonald\u2019s later tweeted \u201conly if\u00a0@Tesla<\/a>\u00a0accepts grimacecoin,\u201d in reference to the purple character featured in some of the fast-food company\u2019s advertising campaigns. Tesla didn\u2019t respond to a request for comment.\u00a0<\/p>\n Mr. Musk\u2019s\u00a0tweet came\u00a0after cryptocurrency prices<\/a>\u2014including dogecoin\u2014have fallen sharply in recent days. The selloff prompted McDonald\u2019s to tweet on Monday<\/a>: \u201chow are you doing people who run crypto twitter accounts.\u201d<\/p>\n Dogecoin, initially started as a joke in 2013, is currently in the top 10 by market value for cryptocurrencies, according to CoinMarketCap. Its value tends to fluctuate based on what Mr. Musk says about the volatile cryptocurrency.<\/p>\n When pressed to explain what dogecoin was during a \u201cSaturday Night Live\u201d performance<\/a> in May 2021, Mr. Musk, who was hosting the show, eventually said, \u201cYeah, it\u2019s a hustle,\u201d which sent the cryptocurrency\u2019s price falling.\u00a0<\/p>\n The price of dogecoin has lost roughly 80% of its value since Mr. Musk\u2019s SNL appearance.<\/p>\n In addition to accepting dogecoin for payment for some merchandise, Tesla last year bought $1.5 billion in bitcoin<\/a>. While Mr. Musk initially said Tesla would also accept payments in bitcoin, the company later suspended that initiative<\/a> after Mr. Musk expressed concerns about high levels of fossil-fuel use for bitcoin mining.<\/p>\n
\n MCD -1.16%<\/span>
\n <\/a><\/p>\n
\n TSLA -1.25%<\/span>
\n <\/a><\/p>\n
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