Tesla could accept Dogecoin payments “at some point,” Elon Musk says
- Elon Musk says Tesla should accept Dogecoin as payment for its electric cars “at some point,” Cointelegraph reports.
- Musk shared his optimism on Dogecoin during his visit to a Tesla Gigafactory in Berlin.
- Prices of tokens such as Dogecoin, Grok and Optimus AI, which Musk has previously endorsed, increased on Thursday.
Tesla CEO Elon Musk, popularly known as “Dogefather” due to his history of comments endorsing Dogecoin (DOGE), said Wednesday that the meme coin could become an official payment method for Tesla cars “at some point.”
DOGE price increased 8.4% to $0.1876 after Musk’s remarks. This surge in interest also supported a price rally of other tokens related to Tesla CEO such as Grok (GROK) and Optimus AI (OPTI).
Also read: Elon Musk open to using Bitcoin on X, fueling hope among market participants
Elon Musk comments catalyze DOGE gains
During a session at Tesla’s Gigafactory in Berlin, Germany, the CEO responded to an audience member’s question about when it will be possible to buy Tesla with Dogecoin. “At some point I think we should enable that,” Musk said, fueling hopes of the meme coin’s acceptance as a payment method at Tesla.
"Tesla will enable Doge payments at some point. Doge to the Moon"
— DogeDesigner (@cb_doge) March 14, 2024
一 Elon Musk
@dogeofficialceo pic.twitter.com/76HlBG0Qsi
The Dogefather’s advocacy and acceptance of the largest meme coin is not new. Musk has previously made remarks on Dogecoin, calling the asset “people’s crypto” and endorsing DOGE on various occasions since 2021.
The comments have likely catalyzed gains in DOGE price on Thursday. The broader crypto market benefited from the positive sentiment and Bitcoin’s new all-time high at $73,777 on Thursday, further supporting DOGE gains.
DOGE price climbed 8.4% on the daily timeframe.
Other Musk-related tokenssuch as GROK and OPTI noted 0.5% and 2.4% gains on the day.
Elon Musk related tokens. Source: CoinGecko
DOGE holders remain positive on Musk’s acceptance of Dogecoin as a payment method for X in the future, when the social media platform rolls out its in-app payment service. Musk’s electric car business has been accepting Dogecoin payments for Tesla merchandise since 2022, it remains to be seen whether customers will be able to pay for their car purchases using DOGE.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
(This story was corrected on March 14 at 12:56 GMT to say "Tesla Gigafactory in Berlin" not "Tesla factory at Giga Berlin.")
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
