Tesla now accepts Dogecoin, and the price of DOGE reacts and approaches $0.2
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Answer Tesla now accepts Dogecoin, and the price of DOGE reacts and approaches $0.2
As is well known, Tesla, Inc. is an American company for electric vehicles and clean energy.
The company designs and manufactures electric cars, with the ability to charge batteries power from the home or via solar panels.
With the manufacture and provision of electric vehicle related products and services.
Tesla is and remains one of the most valuable companies in the world, with a market capitalization of more than $1 trillion.
Tesla Allows Dogecoin Payments:
On December 14, 2021, Tesla CEO Elon Musk revealed in a tweet that:
Tesla will make some items purchasable with the Doge.Read:Celsius fully repays its loan to Maker and recovers nearly 22,000 bitcoins as collateral
He added that they will see how it goes.
It’s only been a few weeks since the announcement, and Tesla has already made DOGE available as a payment method for merchandise.
This means that customers can now choose from a variety of items, with the option to pay for them with the popular meme currency.
These items include some electronic equipment.
Tesla makes DOGE the only cryptocurrency payment option:
Interestingly, this decision makes Dogecoin the only cryptocurrency accepted by the electric car giant.
Although in early 2021, Tesla began accepting bitcoin for its cars, it quickly backtracked a few months later.
The company’s CEO became concerned about the potential environmental impact of bitcoin mining and removed bitcoin as a payment option, which was followed by a significant price drop.
DOGE price reaction:
DOGE is up 14% in 24 hours and rose to a monthly high (above $0.2) this morning, following the Tesla announcement.
This also marks the fifth consecutive day of gains for the currency, which is now up about 25% over the past week.Read:Cardano reveals more details about the update of the smart contracts “Plutus”
At press time, the coin is trading at $0.197, down about 73% from its all-time high of $0.7403.
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