Elon Musk, the founder and CEO of Tesla, publicly stated that the cryptocurrency Dogecoin could potentially serve as a legitimate method for purchasing Tesla electric vehicles in the future. This mention came after Musk received requests from workers at Tesla's manufacturing plant and visitors of SpaceX to include Dogecoin among the official payment options.
Musk suggests Dogecoin as a payment method for Tesla
During a public event at the Gigafactory in Berlin, where Tesla manufactures its vehicles, Musk was asked about the possibility of buying Tesla using Dogecoin. His positive response - "I think we should enable it at some point" - sparked excitement among investors, leading to a rapid increase in the value of Dogecoin.
Musk's support for Dogecoin and its value surge
Musk's endorsement of Dogecoin, expressed with the slogan "Dogecoin to the Moon," immediately boosted the value of the cryptocurrency. Upon the latest check, the price jumped from $0.172 to $0.188, representing approximately a 9.3% increase. Musk also confirmed that Dogecoin can be used to purchase Tesla products.
Initiation of Dogecoin support
Musk's backing of Dogecoin stemmed from appeals from Tesla employees and SpaceX visitors who wished for Dogecoin to be accepted as an official payment method. Musk emphasized that Dogecoin is a "people's cryptocurrency" and expressed willingness to support it compared to Bitcoin, which enjoys strong support among wealthier segments of the population.
Tesla and Dogecoin
Since January 14, 2022, Tesla began accepting Dogecoin payments for its goods, with no other digital assets being accepted or refunded. This move underscored Musk's role as an innovator in the realm of digital payments.
Speculation about crypto payments on platform X
With the recent creation of the "XPayments" account on the X app, formerly known as Twitter, speculation has arisen about whether cryptocurrencies will be integrated into its upcoming payment feature. While details remain unclear, the community expects Musk to potentially endorse the inclusion of Dogecoin in mainstream payment methods.
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