Elon Musk Opens Door to Dogecoin Payments for Tesla Vehicles

In a recent interaction with the audience at Tesla’s Berlin Gigafactory, Elon Musk, the CEO of Tesla, hinted at the possibility of Dogecoin (DOGE) being accepted as payment for Tesla vehicles in the future. Responding to a question about using DOGE to purchase Teslas, Musk expressed openness to the idea, stating, “At some point I think we should enable that.” This statement has excited investors and fans alike, leading to a noticeable increase in Dogecoin’s market price, which jumped from $0.172 to $0.187 at the time of writing, showing a 6% gain within 24 hours, according to CoinMarketCap data.

Musk’s affinity for Dogecoin is well-known, often referring to it as “the people’s crypto.” His endorsement of DOGE began after Tesla Gigafactory employees and SpaceX visitors suggested its adoption as a payment method. During the last bull market in 2021, Musk was able to push the DOGE price up above $0.60 on multiple occasions. He also appeared on Saturday Night Life, where he promoted the DOGE, and dubbed himself the ‘Dogefather‘ at that time.

It is rumored that Musk himself holds numerous DOGE wallets, however these claims have been dismissed also.

Currently, Tesla allows the purchase of merchandise using Dogecoin, further showing Musk’s support for the cryptocurrency.