Photo: Twitter / Elon Musk
Elon Musk is one of the staunchest supporters of cryptocurrency, though he’s not one of those who propose the complete abolishment of fiat currency. Some time after Tesla canceled the option to pay for merchandise, including vehicles, in Bitcoin, Musk is now introducing Dogecoin as an option.
Dogecoin is Musk’s favorite crypto; he loves it so much he even vouched to put a literal Dogecoin on the literal Moon (his exact words) this year, in between supporting it on social media and in interviews. Most analysts might be of the opinion that all cryptocurrency is nothing short of a gamble in which one would be wise to invest only what one can afford to lose, but Musk, like all cryptocurrency proponents, thinks it’s the future.
As such, his most recent Twitter announcement on the topic should not come as a surprise. “Tesla merch buyable with Dogecoin,” he says in a post. He doesn’t offer details on when the change should become applicable but, if we know one thing about his Twitter habits, it’s that when his statements do come true, they usually happen very quickly.
Neither does he say whether this would be applicable to Tesla vehicles, which, technically, could qualify as “Tesla merch.” After Tesla dropped the option to pay for the EVs in Bitcoin due to environmental concerns (mining for Bitcoin comes with a huge carbon footprint because of the high-energy resources needed for it), it was widely assumed Dogecoin would become the replacement crypto.
Even in his TIME profile, which saw him named as the Person of the Year for 2021, Musk compared Bitcoin and Dogecoin, tipping the scales in the latter’s favor. Bitcoin had a very high value, which made it more suitable as an investment, whereas Doge was more transactional, in that it “encourages people to spend, rather than sort of hoard as a store of value.”
As of the time of press, Musk’s short and condensed announcement is being met with warm praise from his followers. Expect the Dogecoin value to increase in the following hours because such is the power of Elon.
As such, his most recent Twitter announcement on the topic should not come as a surprise. “Tesla merch buyable with Dogecoin,” he says in a post. He doesn’t offer details on when the change should become applicable but, if we know one thing about his Twitter habits, it’s that when his statements do come true, they usually happen very quickly.
Neither does he say whether this would be applicable to Tesla vehicles, which, technically, could qualify as “Tesla merch.” After Tesla dropped the option to pay for the EVs in Bitcoin due to environmental concerns (mining for Bitcoin comes with a huge carbon footprint because of the high-energy resources needed for it), it was widely assumed Dogecoin would become the replacement crypto.
Even in his TIME profile, which saw him named as the Person of the Year for 2021, Musk compared Bitcoin and Dogecoin, tipping the scales in the latter’s favor. Bitcoin had a very high value, which made it more suitable as an investment, whereas Doge was more transactional, in that it “encourages people to spend, rather than sort of hoard as a store of value.”
As of the time of press, Musk’s short and condensed announcement is being met with warm praise from his followers. Expect the Dogecoin value to increase in the following hours because such is the power of Elon.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
Watch: TIME's 2021 Person of the Year @elonmusk discusses cryptocurrency #TIMEPOY https://t.co/FfwEGxW7LX pic.twitter.com/5BXAZky0LS
— TIME (@TIME) December 13, 2021
Google News