NOTW – Dogecoin surges in value after Elon Musk makes surprise Tesla claim

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Elon Musk has said that his electric car company will start accepting payment for merchandise in Dogecoin.

The Time person of the year said Tesla would start taking Doge payments to ‘see how it goes’.

The value of Dogecoin (a joke cryptocurrency set up to rival Bitcoin) jumped as much as 25 per cent in value as a result.

It’s not the first time Tesla has experimented with crypto. It earlier claimed it would accept Bitcoin before reversing the decision and citing the environmental costs of mining.

‘Fundamentally, Bitcoin is not a good substitute for transactional currency,’ Musk told Time.

‘Even though it was created as a silly joke, Dogecoin is better suited for transactions.’

Musk confirmed the idea in a tweet that sent Dogecoin soaring. It dropped down a bit afterwards before settling at around a 15 per cent increase.

Despite the bump from Musk’s revelation, Dogecoin has actually been trading down over the last couple of months.

The coin has failed to reach its record high set in May when it was trading at $0.722320.

source: Metro

Pick the best possible way to fill in the gaps in the sentences.

1. Dogecoin was set up ……….. .
A) by Elen Musk
B) by Bitcoin
C) as a joke

2. Tesla accepts ………. .
A) Dogecoin
B) Bitcoin
C) both

3. Musk said he found Dogecoin good ………. a joke cryptocurrency.
A) because it is
B) although it is
C) because it is not really

4. In the last couple of months Dogecoin has been doing ………. what Musk said about it.
A) better because of
B) better in spite of
C) worse because of

5. In May Dogecoin ……….. .
A) reached a record high value
B) fell to a very low value
C) was below its record value warming the climate

keys/megoldások:
1.-C.; 2.-A.; 3.-B.; 4.-C.; 5.-A.

Vocabulary

merchandise áru
cryptocurrency kriptovaluta
to set up létrehozni
to rival sg versenyezni valamivel
to experiment kísérletezni
to claim állítani
to reverse megfordítani
to cite sg hivatkozni valamire
mining bányászat
substitute helyettesítő
suited megfelelő
to confirm megerősíteni
to send sg soaring egekbe repíteni
to settle megállapodni
bump kiugrás
revelation bejelentés
trade down árfolyamesés
to fail to reach nem érni el
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