Elon Musk Working With Dogecoin Developers On Efficiency After Tesla Bans Bitcoin

Elon Musk said he was working with Dogecoin developers to "improve system transaction efficiency" one day after Tesla announced it would stop accepting Bitcoin for payment. Bitcoin prices immediately fell after Musk announced the Tesla policy reversal on Wednesday, although prices appeared to have stabilized somewhat by Thursday. The value of Dogecoin, which was initially created to parody cryptocurrencies like Bitcoin, spiked by around 20 percent after Musk tweeted about it on Thursday.