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Elon Musk: Tesla will accept DOGE payments for its goods and services

Elon Musk: Tesla will accept DOGE payments for its goods and services

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Answer Elon Musk: Tesla will accept DOGE payments for its goods and services

Elon Musk – who was named Person of the Year in terms of influence, as his photo was published on the outer cover of “TIMES” magazine – announced that his company, Tesla, will accept payment in digital currency Dogecoin (DOGE).

Musk’s tweet was as follows:

Tesla will make some items purchasable with Doge and see how it goes.

The announcement comes just a day after Musk claimed that DOGE could work as a better payment system than Bitcoin (BTC).

Musk made these comments in his TIMES interview where he claimed that Bitcoin is not suitable for everyday payments.

After being named Person of the Year 2021 in TIMES magazine, Musk told TIMES:

Read:Bitcoin whales continue to collect bitcoins and avoid taking profits at current levels

Basically, bitcoin is not a good alternative to fiat currencies.

Although it was created as a ridiculous joke, Dogecoin is best suited for transactions.

Musk is often referred to as the unofficial CEO of Dogecoin and has played a key role in sending the meme coin to an all-time high of $0.7376.

DOGE price jumps 20% in the wake of Tesla’s announcement:

DOGE’s price rose 20% within minutes of the Musk announcement.

The meme coin rose from a daily low of $0.152 to the current price of $0.195.

The altcoin has seen a steady decline since it reached an all-time high in May 2021, after which the meme could not recover after that.

Dogecoin could seize the opportunity to come back after nearly 8 months of price slump and Musk has once again turned into a meme savior.

Adding Dogecoin as a payment option for goods and Musk’s comment about bitcoin that it is not good for transactions may also indicate that the electric car maker won’t add a bitcoin payment option anytime soon.

Read:Binance Labs invests in new projects targeting the most important crypto problems

Musk previously claimed that if the majority of bitcoin mining turns green, he will eventually restart the bitcoin payment option.

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