Tesla CEO Elon Musk believes that even though Dogecoin was created as a silly joke, it is much better suited for transactions than Bitcoin . In a recent interview with TIME magazine, after being named TIME’s Person of the year, he said, “Fundamentally, Bitcoin is not a good substitute for transactional currency.”
Read moreWhy is Elon tweeting about Dogecoin?
The cryptocurrency that started as a joke can be used for Tesla merchandise. Originally started as joke poking fun at the crypto market, Dogecoin surged some 10% on Friday. Dogecoin rallied Friday after Tesla CEO Elon Musk tweeted the carmaker would now accept the cryptocurrency as payment for merchandise .
Read moreDoes Elon Musk support Dogecoin?
When asked why he supports Dogecoin, Musk responded on Twitter: “Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto. “
Read moreWill Tesla accept Dogecoin?
Tesla CEO Elon Musk has announced that the company’s supercharging station will accept cryptocurrency Dogecoin as payment . Santa Monica Supercharger will officially accept Dogecoin as payment, making it the first Supercharger in Tesla’s network to accept the crypto as a payment method.
Read moreWhat did Elon Musk tweet for Dogecoin?
“Tesla will make some merch buyable with Doge & see how it goes ,” Musk tweeted at the time on Twitter TWTR, -1.12% . As for what merchandise specifically can be bought with Dogecoins, Tesla’s website listed a cyberwhistle for 300 Doge on its website, while 12020 Doge will buy a Cyberquad for kids.
Read moreIs Elon Musk buying Dogecoin?
Elon Musk, Tesla’s founder and CEO, again threw his weight behind the meme-inspired cryptocurrency dogecoin. In a tweet on Jan. 14, Musk announced that Tesla is accepting dogecoin —”people’s crypto“—as payment for some merchandise on its website.
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