Seeking Alpha
2021-12-14 12:19:41

Dogecoin powers up 26% as Tesla accepts the alt-coin for some merch

Dogecoin (DOGE-USD) drives up 26% to $0.21 after Elon Musk tweets that Tesla (NASDAQ:TSLA) will accept the cryptocurrency for some of its merch and will "see how it goes." That's against a backdrop of bitcoin (BTC-USD) slipping 2.1% to $47.8K, ether (ETH-USD) slipping 3.9% to $3.85K, and Solana (SOL-USD) dropping 5.8% to $158. So far that news isn't helping Robinhood Markets (NASDAQ:HOOD), -0.9%, in premarket trading. The company's Q3 earnings miss was driven in large part by the crypto trading dropoff, chiefly the decline in dogecoin. Crypto exchange Coinbase Global (NASDAQ:COIN) gains 1.0%. Note that last month AMC Entertainment (NYSE:AMC) teased that it would soon start accepting dogecoin (DOGE-USD).

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