Tesla accepts Dogecoin payments

One positive comment raised the coin’s value to more than 4000%

For the record, Dogecoin is a decentralized cryptocurrency that started off as a meme coin. It was created by Bill Marcus and Jackson Palmer to create crypto assets that would be understandable by a majority of people, and of course, be different from Bitcoin. After the tweet on Bitcoin made by Elon Musk in early 2021 and the effects of his tweets concerning Bitcoin and Dogecoin, there seems to be a break until 2022. This little break was a result of the effects his comments turned things around for investors, especially negatively. For example, in 2021 he only gave a positive comment about Dogecoin and it raised the coin’s value to more than 4000%. In the year 2022, Elon strikes another chord by announcing that Tesla will be accepting Dogecoin for the purchase of their merchandise. We can already attest that every tweet made by Elon concerning any cryptocurrency either pushes the coin higher or brings down the value of the coin. This recent development will take a toll on the cryptocurrency in question.

Dogecoin is the only digital currency Tesla accepts

However, Musk deciding to settle for Dogecoin in the meantime does not mean that he has ruled out the chances of other cryptocurrencies like Bitcoin. Musk is a supporter of cryptocurrency and has often endorsed dogecoin believing that it is better for transactions. He made these conclusions most recently, in an interview with the Times magazine. For now, after Tesla’s decline of taking Bitcoin for the purchase of Tesla vehicles, Dogecoin is the only digital currency Tesla accepts. We always have the idea that Tesla only sells electric vehicles. However, its items available for purchase comprise Tesla-built buckles that cost 835 doge and children’s all-terrain vehicles at 12020 Doge. These purchases interestingly are non-refundable.

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BIT4YOU.io

BIT4YOU.io

bit4you is an european crypto exchange platform. We are facilitating the transition between crypto currencies and traditional currencies such as euro.