Elon Musk also pointed to in social media as the ‘Dogefather,’ owing to its alliance with the Dogecoin currency, has proposed Tesla could start receiving the currency as payment for its vehicles. The company, which is now allowing bitcoin as payment for its cars and holds it as part of its assets, could also include dogecoin as part of its preferred cryptocurrency roster.
Elon Musk Hints at Tesla Accepting Dogecoin
Elon Musk, CEO of SpaceX and Tesla, has hinted today at the chance of the electric car company accepting dogecoin (DOGE), the now-famous meme coin as payment for its cars. Musk asked today in a poll on Twitter to his fans if they would like this to happen. Unsurprisingly, he got a mostly positive answer, with more than 70% of the polled answering they would like it at the time of writing.
Musk is has been one of the main proponents of cryptocurrency in the corporate arena. Tesla is already accepting bitcoin (BTC) as payment for its cars directly on its website, but dogecoin is a relatively unstable currency in terms of price compared to the former, and if it indeed received by the company, it’s unclear if it would be sold for fiat money.
The company bought $1.5 billion in bitcoin last February and it has declared it is holding the bitcoin has received as payments vehicle sales in the long term, after acknowledging they sold 10% of its bitcoin holdings to prove the liquidity of bitcoin as an alternative to cash.
Is Musk Serious?
The issue is whether or not this is a severe inquiry to the people? Musk is known in internet social media groups as a big troll, going to the boundaries of making announcements that had feigned Tesla’s finances on Twitter. Musk revealed last year Telsa’s stock price was ‘too high,’ triggering a selloff that took stock prices 12% low and gaining the rage of its shareholders at that time.
But that has not been the only time Musk has messed up numerous in social media: In August 2018, Musk tweeted he was preparing to take Tesla private, and that he had obtained funding to do it. Again, this statement made him a prosecution from the SEC, which argued these tweets could be seen as a way of shaping stock prices up, give that the original stock price was less than the $420 price declared.
However, if this idea gets executed, it would not be the first time a group affiliated with Musk trusts dogecoin as payment. Last week, SpaceX also published they had confirmed the launch of the dogecoin-paid DOGE-1 mission, which would carry a financial payload to the moon.
What do you think about Tesla receiving Dogecoin payments for its vehicles? let us know in the comment section below.