Elon Musk recently responded to a tweet suggesting Dogecoin as a solution to frozen bank accounts for Starlink. This led to the speculation that Starlink might accept Dogecoin (DOGE) as a payment option. This comes after hints of possibly bringing back DOGE payments for Tesla merch.
The conversation began when Musk, in response to a tweet discussing Starlink’s banking issues, hinted that Dogecoin might be a viable solution.
While this tweet may appear informal, it aligns with Musk’s pattern of using social media to hint at future business moves. His interactions have previously resulted in outcomes like rebranding Twitter to X.
Musk’s Relationship with Dogecoin
Musk’s involvement in the cryptocurrency space began with Bitcoin. Tesla invested $1.5 billion in Bitcoin and briefly accepted it as a payment option. However, citing environmental concerns, Musk later withdrew the option. Although there was a promise to revisit the decision if Bitcoin’s energy consumption became more sustainable, Tesla never reintroduced BTC payments. The company has since offloaded most of its Bitcoin holdings.
Musk has been a vocal supporter of Dogecoin. His engagement with Dogecoin dates back to the 2021 bull run, where his tweets helped drive DOGE to all-time highs. Despite controversies, including a $258 billion lawsuit for alleged price manipulation (later dismissed), Musk’s influence over the DOGE remains significant.
Is DOGE Also Making a Comeback as Tesla’s Payment Option?
Earlier in the week, Musk responded positively to a tweet asking if Tesla would bring back the option to pay for merchandise with Dogecoin (DOGE).
In early 2022, Tesla briefly accepted Dogecoin (DOGE) for merchandise. However, the payment option was withdrawn later that year as market conditions shifted.
The recent attention around Dogecoin (DOGE) payments for Tesla and potentially Starlink has once again put the meme cryptocurrency in the spotlight. As of now, there are no official announcements confirming these payment methods.
