Tesla CEO Elon Musk says a lot on Twitter, and some of the promises he makes take a long time to materialize, but tonight the world’s largest electric vehicle company took a huge step forward. . Tesla’s online merchandise store now accepts Dogecoin. Many wow!
The Tesla CEO has a well-documented history of tweeting, and last May he asked his millions of followers if they wanted the company to accept Dogecoin. With nearly 4 million votes cast, over 78% of attendees voted yes. Less than a year later, Musk appears to be delivering on that promise to his most rabid crypto followers.
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
Musk respected the results of another Twitter poll at the end of 2021 when he asked his followers if he should sell 10% of his Tesla shares, so today’s revelation that Tesla accepts Dogecoin shouldn’t be too much. surprising. It is important to note that not all products on Tesla’s website can be purchased with Dogecoin yet, including their vehicles.
One interesting thing about how Tesla implements its acceptance of Dogecoin is that items are priced in DOGE. If the price of Dogecoin drops, buyers of these items will receive a discount in terms of the US dollar equivalent required to complete the transaction. That probably explains why everything on the website isn’t priced in DOGE, but tonight is definitely a start.
With Dogecoin down nearly 80% from its all-time highs earlier this week, this news is welcomed by holders of the original meme coin. Dogecoin (DOGE) is up nearly 10% on this news, which I guess means all of these Tesla products now cost more in dollars.
The news of Tesla accepting Dogecoin tonight will be seen as a big hit for cryptocurrency enthusiasts, but it remains to be seen how many DOGE holders will jump at the chance to use their coins as a medium of exchange. Tesla’s foray into bitcoin payments has been largely disappointing, but perhaps focusing on merchandising instead of cars that cost up to six figures will lead to better results.
—Shibetoshi Nakamoto (@BillyM2k) January 14, 2022
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