Elon Musk Reveals Potential Dogecoin (DOGE) Support for Tesla Car Purchases
In Brief
Elon Musk, announced potential plans for Dogecoin (DOGE) cryptocurrency integration as a means of purchasing Tesla automobiles.
CEO of automotive and clean energy company Tesla, Elon Musk, announced plans for potential future integration of Dogecoin (DOGE) cryptocurrency as a means of purchasing Tesla automobiles.
Answering a query about car purchases with Dogecoin during his recent visit to the company’s manufacturing plant, Giga Berlin, Elon Musk said, “When can you buy a Tesla with Dogecoin? At some point, I think we should enable that. You can buy Tesla merch with Doge, which is cool. So, Dogecoin to the moon.”
The car company has already facilitated the purchase of merchandise using Dogecoin starting from January 14, 2022. At that time, the company specified that it exclusively supported Dogecoin payments, and any other digital assets aside from Dogecoin sent to Tesla would not be refunded to the purchaser.
Moreover, Elon Musk has previously expressed his fondness for the dog-themed memecoin on various occasions.
Elon Musk’s Crypto Engagement
Elon Musk is known for his fluctuating relationship with cryptocurrencies. In 2021, he initially displayed optimism about Bitcoin (BTC), disclosing plans for Tesla to retain its own Bitcoin through on-chain wallets. However, shortly thereafter, Elon Musk reversed course on accepting BTC payments for Tesla cars, citing environmental concerns associated with Bitcoin mining.
Last year, the CEO of Tesla also mentioned in a post on social media platform X that the platform, formerly known as Twitter, would “never” introduce a cryptocurrency token. Elon Musk’s remarks have consistently impacted the value of Dogecoin. The recent announcement comes amid the increasing popularity of other memecoins, including Dogwifhat (WIF) and Pepe (PEPE).
According to data from CoinMarketCap, Dogecoin’s price has risen by 6.9% in the past 24 hours to reach $0.186 at the time of writing. Year-to-date, the cryptocurrency has experienced a surge of over 158%.
Elon Musk’s announcement regarding the potential integration of Dogecoin for Tesla purchases highlights his ongoing involvement in the cryptocurrency sector.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
