During an interaction at the Berlin Gigafactory, an audience member asked Elon Musk if Tesla cars could be bought using Dogecoin in the future. Musk responded affirmatively, stating, “At some point I think we should enable that.”
Musk’s statement led to a surge in the market price of Dogecoin, rising from $0.172 to $0.188, marking a 9.3% increase as the news gained traction.
Musk reiterated his support for Dogecoin, stating that fans can currently use DOGE to buy Tesla merchandise. He referred to Dogecoin as “people’s crypto” and expressed his desire to support a cryptocurrency preferred by the general public.
Tesla had started accepting Dogecoin payments for company merchandise from January 14, 2022. Musk’s endorsement of Dogecoin stemmed from requests made by employees at Tesla Gigafactory and visitors at SpaceX.
Musk’s “everything app” X (formerly Twitter) recently created an ‘XPayments’ account, leading to speculation within the crypto community about the implementation of cryptocurrencies in the app. There are anticipations that the X app might introduce in-app payment services by mid-2024, but it remains unconfirmed whether it will support cryptocurrencies beyond traditional fiat currencies or specifically Dogecoin.
Elon Musk’s hint at enabling Dogecoin payments for Tesla cars has sparked enthusiasm among investors and Dogecoin supporters. While Tesla currently accepts Dogecoin for merchandise purchases, the potential integration of Dogecoin as an official payment method for Tesla cars could further enhance the adoption and utility of the meme-inspired cryptocurrency.
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