Electric car CEO Tesla’s CEO and shameless dogecoin supporter Elon Musk wants the Coinbase exchange to end its “No DOGE Allowed” policy and list the meme-based cryptocurrency.
Musk tweeted a “Yes” on Saturday after a Twitter user asked the billionaire investor if Coinbase should enable the Shiba Inu-represented cryptocurrency on its platform.
A listing on Coinbase will expose dogecoin to a whole new investor race and thus exploit its potential. This is because the US regulated exchange becomes synonymous with institutional investors and individuals with high net worth. Tesla bought $ 1.5 billion worth of bitcoin via Coinbase in February.
At press time, dogecoin changes near $ 0.059, representing a gain of 6.7% on a 24-hour basis. Prices rose by more than 600% in January alone and by almost 1130% so far this year. Bitcoin, meanwhile, is more than 100% higher year-on-year, according to CoinDesk 20 data.
Acceptance of DOGE has increased over the past few weeks, as has the Dallas Mavericks basketball team accepting the cryptocurrency as payment for tickets and merchandise.
Leading sports brand Wooter Apparel and medical provider CovCare recently announced support for dogecoin as an alternative means of payment.