Musk’s Support for Dogecoin Stemmed from Requests by Tesla Factory Workers and SpaceX Visitors to Adopt the Memecoin as a Legitimate Payment Option

Elon Musk, CEO of Tesla, Suggests Potential Addition of Dogecoin (DOGE) as an Official Payment Method for Tesla Cars

During an interaction with the public at the Berlin Gigafactory on March 13, Elon Musk hinted at the possibility of Tesla accepting Dogecoin (DOGE) as a payment method for its electric vehicles in the future. In response to an audience member’s inquiry about the potential for DOGE transactions, Musk expressed openness to the idea.

This statement from Musk generated excitement among investors, leading to a notable increase in the market price of Dogecoin. The token’s value surged from $0.172 to $0.188, representing a 9.3% rise as of the time of writing, as interest in the news spread.

Musk’s support for Dogecoin stems from previous requests made by employees at the Tesla Gigafactory and visitors at SpaceX, urging him to endorse the meme coin as an official payment option. He highlighted his desire to back a cryptocurrency favored by the general public, contrasting it with Bitcoin’s support primarily from wealthy individuals.

Also, read- A Comprehensive Guide To Unveiling the Best Mysteries Of Dogecoin Mining

Tesla had previously begun accepting Dogecoin payments for its merchandise starting on January 14, 2022, emphasizing its commitment to the cryptocurrency. However, it remains uncertain whether Tesla’s potential adoption of Dogecoin for car purchases will materialize.

Furthermore, speculation has arisen regarding the integration of cryptocurrencies into Musk’s “everything app,” X (formerly Twitter), which recently established an ‘XPayments’ account for its forthcoming payments feature. While there is anticipation for the introduction of in-app payment services by mid-2024, it remains unclear whether Dogecoin or other cryptocurrencies will be included in this feature, aligning with Musk’s supporters’ aspirations for mainstream acceptance of Dogecoin.