Elon Musk has made a big announcement: you can use Dogecoin to buy things from Tesla shortly. This means Dogecoin could join as a payment option for Tesla products. Elon Musk talked about this in Texas at the “We Are Giga” event. He said he likes Dogecoin because it’s for everyone, not just rich people.
A lot of people at Tesla and SpaceX have told him they like Dogecoin too. So, Musk decided to support it. He calls Dogecoin the “people’s crypto” because it’s more accessible to regular folks. As he said:
A lot of people don’t know why I support Dogecoin. While I was walking around the factory in Tesla, a lot of regular guys said ‘Hey can you support DOGE’. Even at SpaceX, people working at factories, regular guys said ‘Please support DOGE’.
I was like, you know what, 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 (the regular people) and I will support it.
Is Tesla The First to Offer Crypto Payment?
This isn’t the first time a car company has accepted digital money. Before this, Tesla accepted Bitcoin for a short time from March, 2021 for two months. They finally stopped Bitcoin payments due to environmental concerns. Elon Musk was kinda unclear at the event when an attendee asked him, “When can you buy a Tesla with Dogecoin?”, as he answered “At some point, I think we should enable that.”
JUST IN: Elon Musk says Tesla will enable $DOGE payments “at some point, Dogecoin to the moon.”
— Watcher.Guru (@WatcherGuru) March 14, 2024
Dogecoin’s value went up about 7% after Musk’s announcement. It shows how much people listen to him and how his support can change things in the crypto world.
Interestingly, Ferrari has started accepting Bitcoin, Ethereum, and USDC for their cars in the United States since the end of 2023 and they want to open up this option in Europe in 2024. This shows more companies are beginning to use digital money in the car industry.
Well, will Dogecoin be the next coin accepted to buy Tesla cars and other things from them? Maybe! However it’s unclear when it happens and we don’t know yet if there will be limits on how much DOGE you can use to buy a Tesla, or if it will apply to all Tesla products. But this is still a big step for Dogecoin and shows that cryptocurrencies is becoming more accepted in the real world. Musk believes in Dogecoin and thinks it has a bright future. He ended his talk by saying, “Dogecoin to the moon,” which got a lot of cheers from the crowd.
