DOGE Officially Added to Tesla's Payment Options but There's Catch
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recent development, prominent e-car producer Tesla run by Elon Musk has added Dogecoin as an official payment option to its website. The payments page has been updated, and now it includes Dogecoin, crypto community’s favorite meme coin.
Tesla officially embraces Dogecoin
However, Tesla still accepts DOGE only for merchandise in the online Tesla Shop. The addition says that “Dogecoin may also be accepted on select products.”
For the first time, Elon Musk’s company began to accept Dogecoin as an experiment in January 2022. Back then, the tech mogul stated, it was an experiment to see how it will go. Various company merchandise began to sell for DOGE — for example, Tesla Cyberwhistle and the “Giga Texas” belt buckle.
Later that year, another company run by the same CEO followed suit — SpaceX.
Yuri MolchanDOGE price spikes 21%
Two years after than, in March 2024, during his visit to Giga factory in Berlin, Musk was asked by the audience whether Tesla intends to implement Dogecoin payments for electric cars. The tech mogul responded that they should add DOGE as a payment option at some point in the future. This statement made by Musk provoked a 10% price surge of DOGE immediately. The rise did not last long, though.
As of this writing, the largest meme cryptocurrency DOGE is changing hands at $0.159 after soaring by more than 21% in the past 24 hours on the Tesla news.
Related articles
Gamza Khanzadaev
Dan Burgin
Alex Dovbnya
Vladislav Sopov