What Happened: Lee said during a recent interview that Dogecoin — which he described as “great” and “pretty fun” — drove mainstream adoption of crypto.
Musk played a role in making cryptocurrencies “a mainstream topic,” Lee said, according to a Wednesday FXEmpire report.
Musk brought cryptocurrencies into the spotlight of mainstream media after he lead his electric car manufacturer Tesla Inc. (NASDAQ:TSLA) to accept Bitcoin (CRYPTO: BTC) as means of payment for its cars in 2021 and then decided to stop accepting it over environmental concerns soon thereafter.
Musk is also arguably Dogecoin’s most notable fan; he frequently tweets about the coin and once even promoted it on Saturday Night Live. At the end of January, he tweeted at the official McDonald’s Corp. (NYSE:MCD) that he would eat a happy meal on TV if the fast-food chain were to start accepting Dogecoin. The company answered that it would only comply if Tesla accepts “grimacecoin” — a fake coin depicting the McDonaldland mascot Grimace.
Crypto scammers were quick to act and soon thereafter the crypto community saw the creation of Grimacecoin (CRYPTO: GRIMACE) on the Binance Smart Chain (CRYPTO: BNB), which then skyrocketed 285,000% in under 24 hours.