Elon Musk has stated that if McDonald's accepts Dogecoin, he will eat a Happy Meal.

Elon Musk said on Tuesday that if McDonald's starts accepting Dogecoin as a form of payment, he'll eat a Happy Meal.

Dogecoin's value increased by around 6.5 percent on Tuesday afternoon, starting at $0.127 when the market started and reaching a high of $0.141, according to the Nasdaq.

Musk has long been a supporter of cryptocurrency, writing in February that "Dogecoin is the people's crypto." Dogecoin began as a mock currency with a Shiba Inu's face and has slowly increased in value, reaching over ten cents in April of 2021.

Dogecoin was inspired by the popular Doge meme of a Shiba Inu peering sideways at the camera with arched eyebrows.

Musk reacted on Twitter when asked why he supports Dogecoin: "Many of the individuals I spoke with on Tesla's assembly lines or at SpaceX's rocket factory own Doge. They aren't financial professionals or techies from Silicon Valley. That's why I chose to back Doge since it seemed like the people's cryptocurrency."

While McDonald's did not respond to the tweet, competitors such as Burger King and Jack-in-the-Box praised their products in the comments.

He owns Dogecoin as well as other cryptocurrencies like Bitcoin and Ethereum, according to a tweet he posted in October 2021.

Despite his tweets about cryptocurrencies, Musk emphasised the importance of producing value rather than investing extensively in them, saying in an October 2021 tweet, "True value is making goods and giving services to your fellow human beings, not money in any form."

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