Tesla made waves about a year ago when it started selling electric cars for bitcoins. In addition, Elon Musk sold dogecoin, a cryptocurrency that, as a result, experienced a meteoric rise. Since then, the Tesla executive has shown that he plans to make dogecoin a viable payment option for online goods. That in May. After that, we saw that AMC and Nothing became interested in dogecoin bills for products like movie tickets and wireless headphones.
Fast forward to mid-January 2022, and Tesla began accepting dogecoin bills for goods. But you can buy a genuine Tesla car, the popular cryptocurrency.
Elon Musk’s resolve to settle for bitcoin bills certainly contributed to bitcoin’s rise in the early part of 2021. At the time, the world’s largest cryptocurrency achieved record new valuations. But tesla took less than two months to replace his mind. Musk announced that bitcoin invoices are not environmentally friendly enough and stopped settling for invoices.
This in mid-May, just as the price of bitcoin began a big drop. Within two weeks, bitcoin fell by around 50%, to $30,000 depending on the currency. Dogecoin and all other cryptocurrencies fell along with bitcoin.
That Tesla accepts dogecoin bills for goods is rarely exactly a surprise. Musk’s SpaceX began accepting dogecoin bills in May, as did the coin’s waste value. SpaceX will take the meme doge to a whole new point by sending a DOGE-1 satellite to the moon. .
Dogecoin was trading at around $0. 19 at the time of writing after peaking at $0. 215 early Friday. Dogecoin closed at $0. 171 on Thursday. About a year ago, the coin topped $0. 01. In early May 2021, Dogecoin topped $0. 73, and Tesla’s CEO is partly to blame for the increase.
Musk announced on Twitter his decision to settle for dogecoin bills for Tesla products. Dogecoin is already online on the site, as shown in the symbol above. The value of dogecoin takes into account shipping costs and taxes.
However, it’s unclear how long the dogecoin payment will last for Tesla’s sake. We will have to see if Musk is satisfied with the effect of the doge on the environment compared to bitcoin. Or if you’ll need more than just dogecoin for Tesla and SpaceX.
Chris Smith began writing about devices as a hobby and, before he knew it, he was sharing his perspectives on the generation with readers around the world. Whenever he doesn’t write about devices, he fails miserably to get away from them, he tries desperately. But that’s not necessarily a bad thing.