According to Tesla CEO Elon Musk, the carmaker will accept payments in Dogecoin (DOGE) for certain goods offered for sale. Will it soon be possible to buy a Tesla car with DOGE
The “Doge Father” is back in business
Tesla CEO Elon Musk has revealed on Twitter that the carmaker will start accepting Dogecoin (DOGE) as a payment method for certain goods.
Tesla will make some merch buyable with Doge & see how it goes
– Elon Musk (@elonmusk) December 14, 2021
Immediately after this tweet was published, the DOGE price rose rapidly, from $0.1596 to $0.2029 in the space of 5 minutes, an increase of almost 27%:
DOGE’s price evolution following Elon Musk’s tweet (Source: Trading View)
While this is a remarkable move, it comes at a time when the market is not very favourable. Indeed, such an announcement would certainly have provoked a much more important bullish push in a more “bullish” market.
This rather unexpected news comes a day after Time magazine named Elon Musk as its Person of the Year for 2021. In an exchange with Time, he said:
Fundamentally, Bitcoin is not a good substitute for transactional money. The volume of transactions in Bitcoin is low and the cost per transaction is high. Even though it was created as a joke, Dogecoin is more suitable for transactions. “
Watch: TIME’s 2021 Person of the Year @elonmusk discusses cryptocurrency TIMEPOY https://t.co/FfwEGxW7LX pic.twitter.com/5BXAZky0LS
– TIME (@TIME) December 13, 2021
