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Tesla “OK” for Dogecoin

Elon Musk, CEO of Tesla, announces cryptocurrency dogecoin payments. Tesla will accept Dogecoin as the official payment. It became the first supercharger to accept crypto as a payment method on the Tesla network. In addition to the company accepting the dosage in its online store, the news came that Tesla has accepted crypto as a form of payment for its vehicles. Earlier, an electrical motor giant accepted Bitcoin for payments and offer one bitcoin for the purchase of one Tesla in 2021. At that time, Bitcoin has touched the highest price ($60K) in the crypto market. After that, Elon Musk was taken back the offer. Now, he is playing a similar game with Dogecoin.


Bitcoin transaction value is lower and the cost per transaction is higher. But basically, the statement came out that Bitcoin is not a good alternative to the trading currency. Musk confirmed that he had a substantial personal investment in Bitcoin on Tesla's investment and that he had Ethereum and Dozy Coin holdings. Santa Monica Supercharger is the first Supercharger in Tesla's network to accept the crypto as a payment method. Elon Musk has a love-hate relationship with cryptocurrencies has continued after seeing various developments in the recent past.


Though Bitcoin was created in 2009, Elon Musk was started to buy Bitcoins worth $1.5 billion in February 2021 making Bitcoin touch historical highs in the crypto market. Many people who showed interest to invest in cryptocurrency are starting following Elon Musk's social media platforms. It is very unfortunate that some were blindly followed him and setbacks with losses. Those who bought Bitcoin for above $60K were seen severe losses after a few months. Bitcoin dropped to the lowest $26K in January 2022. In a similar way, the Dogecoin price may shoot up in the coming weeks after Elon Musk's offer for Tesla payments.
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