Business

Tesla to start accepting Dogecoin? – Elon Musk hints

Published

4 years ago

May 11, 2021

Elon Musk has asked his Twitter followers whether Tesla should start accepting Dogecoin in payment for its vehicles.

The proposal immediately gained overwhelming support from his followers: within 3hrs of posting a poll, some 1,500,000 people had voted. Almost 80 per cent of respondents had said yes..

Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021

Any corporate support from Tesla would likely help further accelerate the growth of the cryptocurrency, which was originally created as something of a joke, themed around an internet-famous shiba inu.

But Tesla would also have to contend with the wild fluctuations in the value of the digital currency. It has gained almost 10,000 per cent in 2021, but has at the same time often seen sharp drops in its price.

The proposal comes just a day after Mr Musk said his other company, SpaceX, would be launching a satellite called “Doge-1” to the Moon next year. The mission would be fully paid for in the cryptocurrency, allowing it to become both the “first crypto” and “first meme” in space, he noted