Elon Musk Confirms Tesla Will Accept Dogecoin (DOGE) Payment

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Billionaire Elon Musk has stated that Dogecoin would be accepted as payment by his electric vehicle business Tesla. The meme token’s market price increased by roughly 26% due to this.

Musk stated in a tweet on Tuesday that the automaker would begin taking DOGE as payment for certain of its products. However, before the corporation accepts the meme token for automobile sales, the roll-out may be on a trial basis.

A Token of Meme Messiah Musk, who was selected Time Magazine’s Person of the Year for 2021, supports cryptocurrencies and has often Tweeted and spoken out in their favor. He is well-known in the Dogecoin community for his encouraging Tweets, which have often pushed the token’s price higher. He even referred to Dogecoin as a ‘hustle’ on the iconic American comedy program Saturday Night Live (SNL).

On the other hand, Tesla will not be the first company to take digital money as payment. Previously, the firm began accepting Bitcoin as payment for its vehicles, but after a few months, it discontinued the payment method, citing environmental concerns with Bitcoin mining.

Tesla is most known for its electric vehicles, but it also offers a wide selection of products, including shirts and belt buckles, as well as a variety of automotive accessories. Tesla stuff ranges in price from $50 to $1,900, and occasionally much more for limited edition items, all of which may now be purchased with Dogecoin.

In the meantime, the meme token is selling at $0.20, up from $0.16 only minutes after Musk’s announcement.

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