Elon Musk announced Tesla would soon start accepting Dogecoin as a payment method. It comes after the EV giant reversed its decision to accept the top cryptocurrency, Bitcoin.
WASHINGTON, DC - MARCH 09: Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference.
Elon Musk's Tesla and Dogecoin
As per the report by Electrek, the latest announcement of the CEO and founder of Tesla marks the first time that the EV tech firm is accepting cryptocurrency as payment again since it ditched Bitcoin.
It is worth noting that Musk, who also owns the space exploration firm, SpaceX, has a vocal fascination with the meme coin, Doge.
Representation of Bitcoin and Dogecoin cryptocurrencies are seen in this illustration photo taken in Sulkowice, Poland on August 10, 2021.
In fact, the Tesla boss does not only blurt out consistent high praises to Doge, but he also previously teased, way back on May 11, that his EV firm is likely to accept the meme coin as its second crypto payment.
The EV tech giant was still accepting Bitcoin as payment for its electric vehicles during that time.
Shortly before confirming that Doge will soon be accepted as payment, the TIME person of the year and Tesla CEO said in an interview that the meme coin is the best crypto out there.
On the flip side, the billionaire further claimed that Bitcoin is not actually a "good substitute" for the traditional currency, noting that Doge is still better for him.
Elon Musk: Tesla to Accept Dogecoin
Now, the Tesla CEO confirmed in a tweet that the tech giant would soon start accepting Doge payments for some of the merchandise sold on the online retail store of the EV maker, according to the news story by Coindesk.
Musk said that "Tesla will make some merch buyable with Doge." He added that, for now, the firm will initially "see how it goes."
Tesla will make some merch buyable with Doge & see how it goes
— Elon Musk (@elonmusk) December 14, 2021
As such, although Tesla is welcoming Doge as a payment method, it will still be limited to selected products in the meantime.
It turns out that the automaker is still testing the waters for the transactional capabilities of the meme coin.
Elsewhere, the theater chain, AMC, also previously announced that it will start accepting Dogecoin for purchasing digital gift cards, along with other crypto options like Shiba Inu.
Tesla and Crypto
With the latest announcement from Musk, it looks like Tesla is back with its endeavor of embracing cryptocurrency as a transaction currency.
Its short-lived attempt to do so was promptly halted after its founder went on to announce that Tesla will only accept Bitcoin again once its mining becomes 50% clean energy.
As of writing, the EV maker has yet to welcome the top crypto once again.
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Written by Teejay Boris
