Elon Musk: Dogecoin for Tesla Purchases

Elon Musk, founder of SpaceX and Tesla, mentioned that people should eventually be able to purchase Tesla cars using Dogecoin (DOGE). He expressed this during his visit to Tesla’s Giga Berlin factory.

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Elon Musk, adding that currently, Dogecoin can be used to buy Tesla merchandise. Musk’s remarks contributed to an almost 8% surge in Dogecoin’s price over the past 24 hours, reaching $0.184 amid a rally in meme coins.

Elon Musk’s Affection for Dogecoin: A Timeline

Since his introduction to the crypto scene, Elon Musk, often dubbed the “DOGEFather,” has shown a peculiar fondness for Dogecoin (DOGE).

In May 2021, during his hosting gig on Saturday Night Live (SNL), Musk participated in a sketch where he portrayed a financial advisor, humorously discussing DOGE’s nature as “just a hustle” while teasing its potential with the phrase “to the moon!”

Later, in November 2022, Musk was spotted at the headquarters of X (formerly Twitter) donning a T-shirt adorned with a graphic of DOGE wearing a cowboy hat and sunglasses.

Around the same time, Musk shared a post on X featuring an image of a Shiba Inu dog, the face of Dogecoin, donning a shirt with Twitter’s former blue-bird logo. These instances further solidified Musk’s association with Dogecoin and his playful involvement in the cryptocurrency space.

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Elon Musk’s Shifting Stance on Cryptocurrency

Elon Musk’s interest in the cryptocurrency market appears to have dwindled over time. During a conversation on X Space with ARK Invest CEO Cathie Wood on December 21, Musk revealed that he devotes little thought to cryptocurrency. He expressed his perspective on money, likening it to “a database for resource allocation,” and suggested that the traditional fiat system suffices for this purpose as long as government intervention is minimal.

Moreover, Musk responded to a warning about fake token promotions on X in August, asserting that the social media platform he owns will never introduce its own cryptocurrency token. These statements indicate a shift in Musk’s engagement with the cryptocurrency space, signaling a departure from his earlier enthusiasm.

Also Read: Shiba Inu (SHIB) Drops from Top 10; But Optimism Persists

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.