What You Should Know
- Dogecoin’s price remained stable despite rumors of Tesla searching for a new CEO to replace Elon Musk, a claim that the company has refuted.
- Reports indicated the Tesla board considered replacing Musk due to his connection with the Trump administration, but both Musk and Tesla have denied these claims.
- Since early 2022, Tesla has accepted Dogecoin for merchandise payments, enabling users to link their DOGE wallets for transactions.
Dogecoin (DOGE) prices remained relatively unchanged following news that Tesla was reportedly looking for a new CEO to succeed Elon Musk, a claim dismissed by the company. Dogecoin’s price fluctuated around 16-17 cents in the past 24 hours, consistent with a stable market environment. Musk, a prominent supporter of Dogecoin, typically influences the cryptocurrency’s price through his statements and corporate developments.
About a month ago, Tesla’s board contacted several executive search firms regarding a potential replacement for Musk, spurred by his significant involvement with the Trump administration, according to WSJ. The board requested Musk publicly commit to devoting more time to Tesla.
In response, Tesla’s X account stated, “This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk, and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”
Musk referred to the article as a “deliberately false article” in a follow-up post.
Tesla has been accepting Dogecoin since early 2022 as the sole cryptocurrency for merchandise payments. Users can connect their DOGE wallets directly to pay for products.
