Feb 8, 2021

Is Tesla Now Accepting Dogecoin As a Payment Option?

Genevieve Montague

lon Musk has never shied away from proclaiming his love for cryptocurrency and decentralized currencies as a whole. Whether he says something about the emerging industry in a video or simply tweets his feelings, Elon's love for crypto is very well documented.

Musk, viewed by many as the leader of the newest tech wave, continued to tweet numerous times about his love for Doge Coin. Doge Coin was created to be a meme token similar to that of its origin. Regarded by most as worthless, Dogecoin was recently valued on the market at less than a penny. In the last couple weeks, Elon made numerous tweets about the meme token.

As of now, his tweets have helped the token skyrocket to nearly $0.08 per unit. Since the token's rise, many investors are now considering holding Dogecoin in the hopes of it going even higher. Many traders have began to speculate as to why he has talked so much about this particular coin and if it has and relevance to any of his companies future plans. Elon's infatuation and belief in cryptocurrency has even pushed him to make substantial investments, both present and future. In fact, Tesla has just invested $1.5 billion in BTC as well as plans to accept the token for payment "in the near future".

But what about Doge Coin? Sources have suggested that Dogecoin could be the next crypto token to be accepted as a payment method on Tesla's website. Of course these are hypothetical conclusions, but a screenshot has been floating around the internet of Dogecoin actually being used as a payment method on the Tesla website. We are not sure how much validity there is to the image but we wouldn't be surprised if one day it is confirmed.

In the meantime, it would be a smart idea to monitor Elon's constant tweets about crypto to stay in the loop.

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