Elon Musk announces Tesla will accept Dogecoin as payment for certain products

Tesla will accept Dogecoin as a form of payment, but not for its cars.

Tesla CEO Elon Musk said a few months ago that the company was going to start accepting bitcoin as a payment method for its cars. However, a few months later, the company abandoned this new payment method. Elon Musk then hinted that the reason for this turnaround was the environmental impact of this cryptocurrency. The multi-billionaire tweeted that the company will adopt this cryptocurrency again when miners start using more clean energy.

Tesla will accept Dogecoin as a payment method

Today, it looks like Tesla has decided to accept crypto again, but not bitcoin. This time, Dogecoin has been chosen. Dogecoin is an altcoin, originally created as a simple meme, a joke, but over time it has established itself as a cryptocurrency worthy of its name. And maybe it’s thanks to Elon Musk tweeting about it on a regular basis that has led to an increase in the percentage of people ranked in this currency.

but not for his cars

However, you will not be able to buy Tesla with Dogecoin. At least not right away. According to a tweet by Elon Musk, Dogecoin will be accepted as a payment method, but only for certain products. In other words, you will be able to buy almost anything other than cars, be it a hat or a T-shirt, like the ones Tesla sells. Elon Musk’s tweet also showed that Dogecoin’s value had skyrocketed, almost instantly. Whether it manages to maintain this level or not remains to be seen as the volatile nature of this cryptocurrency makes it very difficult.

What’s interesting here is that Elon Musk seems to be a big supporter of Dogecoin. A recent interview with Time Magazine revealed that the multi-billionaire is convinced that Dogecoin is a better cryptocurrency for transactions than bitcoin, which he says is more of a currency for storing value than for buying or selling anything.