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9 Feb, 2021 15:49

Joke Tesla crypto listed on cryptocurrency tracker after carmaker bets big on bitcoin

Joke Tesla crypto listed on cryptocurrency tracker after carmaker bets big on bitcoin

Cryptocurrency price tracker CoinMarketCap listed Tesla's Model3 digital money as a joke after the carmaker revealed it invested in bitcoin and plans to accept it as payment.

The token that goes under “Tesla” ticker was listed on the website on Tuesday, and was seen atop of the largest cryptocurrencies such as bitcoin and ethereum. While the coin is not a real asset, the website set its price at $37,990, almost in line with the cost of of Tesla’s most affordable vehicle. As of Tuesday, the cheapest version of the Model 3 was available for purchase in the US for $36,490, according to the carmaker’s website. 

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The ranking appeared less than 24 hours after Tesla’s announcement sent bitcoin price soaring to new record levels. On Monday, the carmaker revealed that it had bought $1.5 billion in bitcoin in a filing with the US Securities and Exchange Commission. It also vowed to accept the digital currency as a form of payment for its products in the near future. 

The company’s CEO and the richest man in the world, Elon Musk, has recently turned into a vocal supporter of bitcoin and other cryptocurrencies, with both his online and offline statements triggering a trading frenzy. 

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The idea to create Teslacoin and use it as the currency of Earth and even Mars, which Musk wants to colonize, has been floated by some of his followers on Twitter. The billionaire joked that his favorite canine-themed Dogecoin could ironically become “the currency of Earth in the future.”

Previously, the top spot on CoinMarketCap was reserved for another joke token, WallStreetBets. The name of the coin stemmed from the subreddit that was leading amateur investors’ battle against Wall Street, that wreaked havoc in the stock market at the end of January.

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