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.

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