Elon Musk Hints at Dogecoin Payment Option for Tesla Cars

Dogecoin (DOGE) enthusiasts received a positive nudge from Tesla CEO Elon Musk during a recent visit to the company’s Berlin Gigafactory. When asked by an audience member if Tesla would ever accept DOGE for car purchases, Musk’s response hinted at a potential future option.

“At some point I think we should enable that,” Musk stated, sparking a wave of excitement among investors. The price of Dogecoin reacted swiftly, jumping 9.3% from $0.172 to $0.188 at the time of writing.

While a concrete timeline for Dogecoin acceptance remains unclear, Musk did reiterate his support for the meme-based cryptocurrency. He pointed out that fans can already use DOGE to purchase Tesla merchandise, adding the now-famous phrase “Dogecoin to the moon.”

Musk’s support for Dogecoin appears to stem from its perceived alignment with the average person. He contrasted it with Bitcoin, which he believes has gained favor primarily among wealthy individuals. According to Musk, “Doge is people’s crypto,” which is why he chooses to support it.

This isn’t the first time Musk has publicly advocated for Dogecoin. Previously, employees at both Tesla and SpaceX had petitioned him to accept DOGE as a payment method, leading to its eventual adoption for Tesla merchandise purchases in January 2022. At the time, Tesla made it clear that only Dogecoin payments would be accepted, and any other cryptocurrencies sent for merchandise would not be refunded.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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