YEREVAN (CoinChapter.com) — Tesla CEO Elon Musk says his electric car company will soon start accepting Dogecoin as an official payment method. The eccentric billionaire investor’s statement came in response to a question raised at Tesla’s Berlin Gigafactory on March 13.
Musk’s Dogecoin Nod Sparks Tesla Buzz and Crypto Surge
Elon Musk indicated that Dogecoin, trading at $0.19 then, could potentially be used to purchase Tesla vehicles. This interaction highlights Tesla’s openness to incorporating cryptocurrencies like Dogecoin into payment options.
Musk’s comment excited investors excited, and Dogecoin’s price quickly increased. The price of Dogecoin rose from $0.172 to $0.188, a 9.3% increase. This happened as more people watched the video of Musk talking about Dogecoin on the social media platform X.
Musk mentioned that fans could keep using Dogecoin to buy things from Tesla. He expressed his positive view on Dogecoin with the enthusiastic phrase “Dogecoin to the moon.”
Potential X Integration Ahead?
Musk’s support for Dogecoin started when some Tesla Gigafactory workers asked him to accept it as a way to pay. Then, visitors at SpaceX made the same request. Musk agreed, stating that Dogecoin is the “people’s crypto.”
Musk pointed out that Bitcoin has a lot of support from wealthy people. He said he prefers to back a cryptocurrency that ordinary people like.
Tesla began to take Dogecoin as payment for their merchandise starting Jan. 14, 2022. They made it clear back then that they would only accept Dogecoin. If someone sent any other type of cryptocurrency to Tesla, they said they wouldn’t return it to the buyer.
Elon Musk’s social media platform X has proposed a payment platform called ‘XPayments,’ raising speculations about a potential Dogecoin payment integration.
