Elon Musk: Tesla to accept DOGE for some goods

Tue 14 Dec 2021 ▪ 21h53 ▪ 3 min read — by Felix Meyer

Elon Musk, the world-famous dog lover, billionaire and head of Tesla, has been named Time magazine’s 2021 Person of the Year. This was the result of his space exploration achievements and contribution to modern technological development, cryptocurrencies surely included.

Elon Musk brings together Dogecoin (DOGE) and Tesla

After he became Person of the Year, Elon Musk cheerfully made a post on Twitter revealing fresh news about his favourite digital currency. Namely, Tesla is looking forward to accepting the cryptocurrency for some of the company’s goods and products.

At the moment, the details are not specified. The list of products that can be paid with Dogecoin, as well as the exact time of the implementation are yet to be revealed. However, Elon Musk noted that first Tesla will analyse the relevance of the payment method. In case of success, Dogecoin will be implemented on an ongoing basis.

Dogecoin flies high, thank you, Elon Musk

Elon Musk’s tweets often manage to trigger huge stir among the crypto community, as evidenced by the dog lover’s attempts to manipulate the market with his voice. This time is no exception, since in mere hours after the tweet was published, the price of Dogecoin soared by 24%.

Elon Musk has recently announced Tesla is planning to cease accepting Bitcoin (BTC) for cars, just about two months after this option’s introduction. This may imply that the ‘CEO of Dogecoin’ preferred DOGE to the first cryptocurrency, although Dogecoin itself was initially nothing more than a parody of Bitcoin, designed to criticise the entire digital asset market.

Tesla’s decision didn’t come as a surprise, since a plethora of crypto lovers have been waiting for the introduction of Dogecoin for quite a while now. The main reason behind such moves still seems to be Elon Musk’s unlimited love of Dogecoin.

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Felix Meyer

Le trading et l'analyse technique sont mes spécialités depuis 4 ans. Je décortique le marché et vous partage mon expertise.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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