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Will Tesla Start Accepting Dogecoin As Payment for its Cars?

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Earlier today, Elon Musk, the CEO of Tesla started a poll on his Twitter to know if people would want Tesla to start accepting Dogecoin as payment for its electric vehicles. Elon Musk has been known to support Dogecoin for quite some time. Many expected that the price of Dogecoin would skyrocket after Musk’s appearance on national television two days ago. While this was not the case, there are many people still hopeful for Dogecoin’s prominence, as is evident through Musk’s Twitter poll.

Since the start of the poll, approximately 77% of people have voted yes to the question “Do you want Tesla to accept Dogecoin?

Elon Musk has been known to support cryptocurrencies as Tesla recently invested in Bitcoin. The company also cashed out 10% of its Bitcoin holdings to prove the liquidity of the digital asset. The business magnate, Elon Musk, now wants to know what the people think if Tesla starts accepting Dogecoin as payment.

The price of Dogecoin went up by 10% minutes after Elon Musk started the Twitter poll, while it has been recorded to increase 20% in the past week and 21699.7% in the past year.

Elon Musk also shared a tweet earlier this week, stating that SpaceX will launch Doge-1 to the moon in the next year. This tweet also attracted the attention of numerous people who are interested in the cryptocurrency and follow Musk on Twitter.

Tesla is also the world’s first automotive company to start accepting Bitcoin as payment for its electric vehicles, as reported earlier this year. The company will be directly operating its BTC nodes and only use internal and open-source software.

The Bitcoin payment made to Tesla by the users will not be converted into fiat currency but will be held as Bitcoin, unlike buying several other real-world assets with digital currency.

With its investment in Bitcoin, Tesla might just now become the holder of Dogecoin as well, given Elon Musk’s support for the digital asset.

Regardless of Doegecoin’s publicity, Bitcoin is in a stable position and is likely to remain there. However, people who are interested in digital currencies should consider investing in crypto as the use and significance of digital assets are increasing day by day.

People looking to buy Dogecoin can use Binance, while potential investors of Bitcoin can also use SwissBorg or Kraken. On the other hand, people interested in ultimately trading Bitcoin can use ByBit, which is one of the most popular exchanges in the market.

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