Elon Musk, Tesla’s CEO, announced on Saturday, February 19th, 2022, that the company’s Santa Monica supercharging stations will soon accept Dogecoin as payment. Immediately following this statement, Dogecoin prices started increasing.
Tesla Console founder Rayan Zohoury verified in a tweet that the Santa Monica supercharging stations were completely booked within ten minutes after the offer to accept Dogecoin. When asked about the possibility of opening a restaurant or a drive-in movie theatre at a supercharging station, Musk responded with a detailed response. There is no doubt that Dogecoins can be used to pay for both pre-existing infrastructures.
And, of course, you can pay in Ðoge— Elon Musk (@elonmusk) February 19, 2022
There is a vast range of cryptocurrencies and tokens to choose from. Dogecoin was created by Billy Markus and Jackson Palmer in 2013 as an alternative to Bitcoin that was speedier and more “fun” (for those newbies). People were enamored with the fact that they didn’t need to be tech-savvy to participate in this cryptocurrency. In addition, the “Shiba Inu meme” is a nod to an earlier incarnation of the company’s emblem.
Elon Musk’s Words were Fulfilled
CEO Elon Musk revealed in late December that the company would begin exploring the usage of Dogecoin as a means of purchasing Tesla products. In recent interviews with a forthcoming Time Magazine, Tesla and SpaceX chief executive Elon Musk preferred Dogecoin to other cryptocurrencies, including Bitcoin. It’s important to note that the development of Dogecoin was a prank, despite the fact that it was able to execute better transactions than other cryptocurrencies.
Elon Musk, Tesla’s CEO, is clearly a Dogecoin fanatic, as seen by the aforementioned stories. Musk and Binance CEO Changpeng Zhao’s (CZ) tweet discussion is a significant indication of their interest in cryptocurrency. However, there have been some recent issues with transactions between Dogecoin and Binance Crypto. SpaceX inventor Elon Musk, as well as a billionaire investor, raised worries about the Dogecoin investments.