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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Mar 14, 2024 08:34 UTC
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Tesla to Accept Dogecoin Payments? Elon Musk Teaser Boosts DOGE Price
Elon Musk said Tesla might accept Dogecoin as payment in the future, causing the price to rise.
Musk supports Dogecoin because it's favored by everyday people, unlike Bitcoin which is backed by wealthy investors.
There's speculation that Musk's new social media platform might accept Dogecoin for payments.
A recent video on X (formerly Twitter) from @dogeofficialceo showed Elon Musk, Tesla’s CEO, engaging with the public at the Berlin Gigafactory. In the video, someone asked if Tesla might accept Dogecoin in the future. Musk’s answer was upbeat: “At some point we should enable doing that,” he said, noting that Tesla already allows Dogecoin to buy merchandise.
Musk’s comment sparked excitement, sending Dogecoin’s value from $0.172 to $0.188 as the video gained views. Musk’s signature phrase “Dogecoin to the moon” added to the fervor.
Here’s more information.
Idea to Action
Tesla employees first suggested accepting Dogecoin, a sentiment later echoed by visitors at SpaceX, which Musk embraced. Musk sees Dogecoin as the people’s cryptocurrency, contrasting it with Bitcoin’s backing from the wealthy.
Musk’s “XPayments” on X (formerly Twitter) hinted at cryptocurrency transactions. Speculation abounds on whether Musk’s X app will introduce crypto payments by mid-2024, but it’s unclear if Musk will choose Dogecoin or traditional currencies.
Also Read: Shiba Inu Outpaces Solana, Dogecoin in Record Memecoin Trading Week
The Love for DOGE
Musk’s fondness for Dogecoin dates back to 2021, often reflected in his tweets. Dogecoin is currently valued at $0.1863, showing Musk’s ongoing influence.
With Musk’s backing, Dogecoin’s potential as a mainstream payment method is gaining momentum. As Musk leads the charge, the future of DOGE looks promising.
Will Dogecoin become a mainstream payment option? Share your thoughts.
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