While a Bitcoin (BTC) payment option for Tesla’s merchandise seems far-fetched in the near future, the Elon Musk-owned electric car company could soon reintroduce Dogecoin (DOGE) payments.
Musk, a longtime champion of the Shiba Inu-inspired meme coin, has hinted that he hopes to restore the Dogecoin payment option for customers buying Tesla merchandise.
This comes on the heels of his recent victory in a $258 billion lawsuit that had alleged he manipulated the price of Dogecoin using his X (then Twitter) account.
Musk’s Response Reignites DOGE Payment Hopes
Elon Musk’s latest response to an X user has elicited joy among Dogecoin fans.
When asked, “Who else wants Tesla to bring back the Dogecoin payment option for merch?” the centibillionaire simply replied, “Me.”
Musk’s affirmation that he would like the OG meme coin to be returned to the Tesla website for merchandise payments indicates that it could happen in the foreseeable future since he is in an exceptional position to ensure it happens.
Tesla introduced the DOGE payment feature in January 2022, but it was removed only a couple of months later as crypto winter reared its ugly head. Musk has, however, previously hinted the feature may be restored.
The Tesla/SpaceX CEO recently reiterated his fondness for Dogecoin, admitting he has a “soft spot” for the top meme coin while insinuating that he wasn’t inclined to other cryptocurrencies.
Moreover, Musk’s recent court win could encourage him to revive DOGE payments for Tesla merch. A Manhattan judge cleared the eccentric CEO and his company, Tesla, of any wrongdoing in a lawsuit where disgruntled investors accused them of influencing the memecoin’s price and allegedly taking profits on their Dogecoin tokens at their expense.
With the legal tussle now in the distant past, the EV maker can make Dogecoin payments available at its store. Such a move would certainly be a boon for DOGE and could push its price parabolically higher as the crypto achieves more utility.
Dogecoin Payment For Teslas “At Some Point”
In March, Musk indicated that Tesla would accept Dogecoin as an official form of payment for its electric cars “at some point” in the future.
At the time, Musk revealed why he publicly supports DOGE and not other cryptocurrencies, noting that while “lots of rich people were supporting Bitcoin,” the people working the line at his SpaceX and Tesla factories were requesting him to endorse the canine-themed crypto. “DOGE is the people’s crypto, so I will support it,” Musk declared.
Musk’s hyping of Dogecoin is another reason why Dogecoin community members anticipate the meme coin’s integration into the X in-app payment service set to launch later this year.
Nonetheless, Musk has previously urged people not to invest all their money in Dogecoin.
