Plans to accept dogecoin as payment have been in the works for a while. In December, Musk tweeted that “Tesla will make some merch buyable with Doge & see how it goes .” Musk is a high-profile supporter of dogecoin and his tweets often move the price of the cryptocurrency.
Read moreWhat did Elon Musk say about Dogecoin?
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.”
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