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Elon Musk working with dogecoin developers after Tesla suspends bitcoin payments

Musk's tweet drove dogecoin's price up by nearly a quarter in the past 24 hours to $0.54

By James Booth
Elon Musk now thinks dogecoin could replace bitcoin, despite jokingly called it 'a hustle' - Photographer: Gabby Jones/Bloomberg via Getty Images
Elon Musk now thinks dogecoin could replace bitcoin, despite jokingly called it 'a hustle' - Photographer: Gabby Jones/Bloomberg via Getty Images Photo: Bloomberg via Getty Images

Elon Musk is working with dogecoin developers to improve its efficiency after his electric car company Tesla suspended payments in bitcoin on environmental grounds.

Musk has been a strong proponent of dogecoin and his latest endorsement has helped boost its price which has risen by nearly a quarter in the past 24 hours to $0.54 by 7.25am GMT on 14 May.

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