The cryptocurrency Dogecoin was gaining 10% in 24 hours in the middle of the convention day on Friday in New York, as billionaire Elon Musk, a staunch supporter, completed his Twitter buyout on Thursday.
The digital currency, which started out as a joke, is trading at $0.08, up 33.5% in the past seven days, although it has lost 55% of its value since the beginning of the year.
Some holders believe that Musk will push for a wider adoption of its use and allow payments to it on Twitter, since he now holds the reins of the company.
In June, Musk’s SpaceX began accepting payments in Dogecoin for some of its products, after Tesla had made a similar move in January.
The largest cryptocurrency, Bitcoin, is losing 0.8% in the last 24 hours, hovering around $20,451.
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