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Bitcoin jumps 12% as Elon Musk hints change in position on environment impact of Bitcoin mining, asks for ideas to develop Dogecoin

Following Musk's tweet Bitcoin jumped more than 12 percent during a surge in cryptocurrencies May 24, last up at approximately $39,400

May 25, 2021 / 09:10 AM IST
Bitcoin is nearing the $40,000 level again after Elon Musk tweeted. [Illustration by Suneesh K | Moneycontrol]]

Bitcoin is nearing the $40,000 level again after Elon Musk tweeted. [Illustration by Suneesh K | Moneycontrol]]


Elon Musk, the founder of Tesla and SpaceX, has asked his Twitter followers to submit ideas to “develop Doge” (cryptocurrency Dogecoin) on GitHub or the Dogecoin subreddit page on Reddit and tagged the Dogecoin developers account on the platform.

The Cryptocurrency enthusiast, in a following tweet, also lauded a follower’s suggestion to change Dogecoin fees based on phases of the moon as “pretty awesome”.

“If you’d like to help develop Doge, please submit ideas on GitHub & http://reddit.com/r/dogecoin/ @dogecoin_devs,” he tweeted.

GitHub, controlled by Microsoft, provides hosting for software and version control development, and is usually used to host open source projects.

Meanwhile, Bitcoin is nearing the $40,000 level again after Musk tweeted that he had “potentially promising talks" with North American Bitcoin miners on the energy conservation efforts in mining the cryptocurrency.

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“Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising,” he wrote.

Bitcoin jumped more than 12 percent during a surge in cryptocurrencies May 24, last up at approximately $39,400, erasing losses of 7.5 percent from a day earlier but still down by more than 40 percent from last month's record high, Reuters reported.

Musk, earlier on May 12, said that Tesla would no longer accept Bitcoin due to its consumption of fossil fuels during the mining process.
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