Dogecoin price rises after Elon Musk tweets about transaction efficiency of Crypto

Elon Musk’s influence on the Crypto world and Dogecoin continued Thursday having taken to Twitter.

The self-proclaimed “Dogefather” tweeted that he is in talks with “Doge devs to improve system transaction efficiency” where he believes the currency’s improvements are “potentially promising.”

According to Coinbase via Hypebeast, Dogecoin saw a rapid 18% surge in value as the tweet came shortly after stating to the public that Tesla would no longer be accepting Bitcoin as a payment method for vehicle purchases.

Musk’s concerns with Bitcoin are due to the use of fossil fuels used in mining of the world’s biggest cryptocurrency.