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Tesla Accepts Dogecoin (DOGE) as Payment Method for its Merchandise

Elon Musk, the Chief Executive Officer of the electric car manufacturing company Tesla, has revealed that the company will make some of its merch buyable with Dogecoin (DOGE).

Musk made this revelation in a now-viral tweet on 14th December 2021. Notably, Musk has been a strong supporter of Dogecoin (DOGE), a meme coin that has grown beyond expectation, thanks to his unwavering support. The Tesla CEO who was recently named the person of the year by Times Magazine said the company would “see how it goes.”

Read Also: Elon Musk Says He Wants To Become First Dogecoin (DOGE) Trillionaire

Elon Musk tweeted, “Tesla will make some merch buyable with Doge & see how it goes”

Also, Musk recently said that Dogecoin (DOGE) is fundamentally better than Bitcoin (BTC), the largest cryptocurrency by market capitalization, in terms of transactions.

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Elon Musk noted:

“Fundamentally, Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transactional flow that you can do with Dogecoin per day has a much higher potential than Bitcoin.”

Tesla Merchandise Can Be Purchased with Dogecoin (DOGE)

This announcement has been long-awaited as Dogecoin (DOGE) fans looked forward to when the coin’s lead supporter would accept it as payment in one of his companies.

Previously, Tesla had accepted BTC as payment for its cars. However, it later withdrew its support as Elon Musk expressed concerns about the effect of Bitcoin mining on the environment.

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Read Also: Burger King Brazil Adopts Dogecoin (DOGE) as a Payment Option of Its New Product Dogpper

This action triggered a backlash from the crypto community, but the company has not looked back on the decision. With the latest development, Doge will be replacing Bitcoin as the only cryptocurrency the company accepts as payment.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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