Tesla CEO Elon Musk suddenly announced on the 13th that at some point, he will allow the use of Dogecoin to purchase Tesla vehicles. He praised Dogecoin as the people’s cryptocurrency. As soon as the news came out, Dogecoin surged more than 15% in just 2 hours.
According to a video shared this morning by @dogeofficialceo, a member of the Dogecoin community with nearly 260,000 followers, Elon Musk appeared at the Tesla Gigafactory in Berlin, Germany on the 13th and interacted with the public. Someone asked Musk when they would be able to purchase Tesla vehicles with Dogecoin, to which Musk responded positively.
Musk added that many people don’t know why he supports Dogecoin. When he visited the Tesla factory, many employees asked him if he could support Dogecoin. The same request was made when he visited the SpaceX factory, so he supports Dogecoin.
After Musk’s remarks, the price of Dogecoin quickly soared from around $1.66 in the morning at 10 a.m. to $0.19289 in just two hours, with a maximum increase of over 15%. It was reported at $0.18608 before the deadline, a 7% increase in the past 24 hours.
It is worth noting that Tesla’s support for Dogecoin may be traced back to the fact that Tesla is currently building a Tesla Supercharger station in Los Angeles, USA, which will include a restaurant and an outdoor drive-in theater. The related facilities are nearing completion and are expected to officially operate at the end of this year. Musk announced as early as 2022 that the Supercharger station will accept Dogecoin as payment.
In January of this year, Musk revealed at an X Space event that he still holds a large amount of Dogecoin and has not sold any. He mentioned that Dogecoin is his favorite cryptocurrency but did not mention whether he holds any other cryptocurrencies. However, he revealed that SpaceX holds Bitcoin.
Despite Musk’s enthusiasm for Dogecoin, Tesla and SpaceX hold a large amount of Bitcoin. According to data disclosed by cryptocurrency information company Arkham last week, the company found that Tesla currently holds about 11,510 BTC in 68 addresses, and SpaceX holds about 8,290 BTC in 28 addresses. The total holdings amount to 19,800 BTC, which is approximately $1.44 billion at the current price.
If the data is true, it means that Tesla has recently added nearly 1,800 BTC to its holdings.
Further reading:
Tesla’s Hollywood Supercharger Station nearing completion, will accept Dogecoin as payment
Musk responds to the Doge community: Dogecoin is my favorite cryptocurrency, and I have a lot of it!
From Doge to ClosedAI, a review of the meme storm sparked by “Meme Lord” Musk.