Elon Musk Working With Dogecoin Devs 'To Improve System Transaction Efficiency'

One day after saying Tesla Inc TSLA would no longer accept Bitcoin BTC/USD for car payments, The "Dogefather" is back on his favorite cryptocurrency, Dogecoin DOGE/USD.

"Working with Doge devs to improve system transaction efficiency. Potentially promising," Musk said in a Thursday evening tweet.

The automaker is concerned about the “rapidly increasing use of fossil fuels” used for Bitcoin mining and transactions.

“Cryptocurrency is a good idea on many levels and we believe it has a prominent future, but this cannot come at great cost to the environment,” Musk said in Wednesday's statement.

See Also: Elon Musk 'Sending Dogecoin Up, Bitcoin Down' Like He's 'Wizard Of Oz,' Says Portnoy. 'This Is Bullsh*t'

Earlier Thursday, Musk said in a different tweet, "To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal."

The price of Bitcoin fell as much as 15% following Tesla's decision to stop accepting Bitcoin.

Musk has tweeted several times about Dogecoin, the meme crypto that has exploded in value in 2021, over the past few years.

See Also: Opinion: Is Dogecoin-To-The-Moon Another Elon Musk Pipe Dream?

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