According to founder Elon Musk, the electric car company might officially accept Dogecoin as a payment method for buying Tesla cars in the future.
Buy Tesla With DOGE
Prospective Tesla buyers should start hoarding up on their $DOGE as entrepreneur and Tesla Motors head, Elon Musk hinted that the meme coin could be added as an official payment channel for Tesla cars.
The topic of DOGE as payment for Tesla arose during Musk’s latest visit to the Tesla manufacturing plant in Germany, the Berlin Gigafactory, on March 13. During a public discussion at the plant, an audience member asked Musk if he intended to allow DOGE payments for Tesla purchases, to which Musk responded positively, saying,
“At some point, I think we should enable that.”
Musk’s Support Propels DOGE
He continued to show his support for DOGE, claiming it to be the people’s crypto.
He further said,
“DOGE is people’s crypto. I will support it. A lot of rich people support Bitcoin, but I will support Dogecoin. You know what, Dogecoin is for you, and I will support it.”
As always, this positive response by the billionaire triggered a significant market surge as investors responded with enthusiasm and renewed interest in Dogecoin. The crypto leaped up 9.3%, from its price of $0.172 to $0.188 at the time of writing.
Musk has, however, not given any further details regarding this matter, specifically a tentative timeline of when Dogecoin payments will be enabled for Tesla cars. Currently, buyers can purchase brand merchandise by paying with DOGE on the Tesla website.
“Dogecoin To The Moon”
Musk has consistently supported Dogecoin over the past few years. He has endorsed the crypto multiple times on social media platforms and in interviews, which has caused DOGE prices to spike. The company first started accepting Dogecoin payments on January 14, 2022. Musk has always expressed his belief that DOGE is a much more accessible and people-friendly cryptocurrency than Bitcoin.
There is also further speculation that Musk’s very own social media platform, X (formerly Twitter), will introduce an in-app payment service. However, it is uncertain if this feature will support crypto payments or if Musk plans to incorporate DOGE payments into X.
The fact that Tesla could start accepting DOGE as payment for its cars highlights the growing integration of the cryptocurrency realm with mainstream commerce. It would represent a significant milestone in the adoption of cryptocurrencies for real-world transactions if the company takes this step. This move would further blur the boundaries between digital currencies and traditional financial systems.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
