The tech world is now well aware of the tumultuous relationship that Tesla CEO Elon Musk has with cryptocurrency. In the latest development, Musk said that Tesla might utilize dogecoin to acquire various things ranging from USD 50 to USD 1900.
Tesla would, as of now, accept dogecoin as payment for things; however, this method is still in its trial period. Musk again took to Twitter to announce the news. His tweet reads, “Tesla will make certain items purchasable with Doge and see how it works.”
Musk’s tweets from yesteryear had created a buzz in the world of cryptocurrency. In the same year, Memecoin increased by 5859 percent in value because of his tweets, especially because of the tweet where he mentioned that meme coin is the people’s cryptocurrency. Dogecoin, whose value ranges from $50 to $1900, could be used to buy a broad range of things.
Apart from offering the EVs, Tesla also offers its consumers a range of products which includes apparel, belt buckles with the “Giga Texas” emblem, tiny reproductions of its vehicles, and something called Cyberwhistle, which has been inspired by the much-anticipated Cybertruck.
Musk has defended dogecoin in the past and even went on to say that it was better for a transaction and that “Bitcoin is not a suitable substitute for transactions.”
In May last year, Musk held an online poll on his Twitter account to determine if his firm should accept dogecoin. Musk has pushed dogecoin forward any chance he could get, and likewise, the value of the same has increased. In the same month, Musk made his appearance on the show Saturday Night Live where he referred to dogecoin as a “hustle”.
It is highly likely that transactions using dogecoin could find a permanent place when it comes to Tesla. A few online sources have pointed out that Musk has been active on Twitter throughout the year’s holiday shopping frenzy.