Elon Musk hinted at the possibility of using Dogecoin to buy Teslas in the future.
After Tesla factory workers and SpaceX visitors urged for Dogecoin acceptance, Musk took up the cause for the memecoin.
Addressing speculation about Tesla’s stance on Dogecoin payments, Musk suggested it could happen eventually.
During his appearance at the Berlin Gigafactory on March 13, Musk responded affirmatively to an audience inquiry about Tesla’s potential acceptance of Dogecoin as payment.
“At some point, I think we should enable that.”
Following Musk’s positive response, Dogecoin’s price surged as investors reacted enthusiastically.
The price of Dogecoin rose by 9.3% after Musk’s statement went viral on X, climbing from $0.172 to $0.188.
Musk affirmed that fans could still buy Tesla merchandise with Dogecoin and reiterated his confidence in the coin’s future by chanting, “Dogecoin to the moon.”
Musk initially backed Dogecoin after Tesla Gigafactory employees requested its acceptance as a payment option.
In addition to Tesla Gigafactory workers, some SpaceX visitors also lobbied for Dogecoin acceptance, a request Musk eventually granted.
“Doge is people’s crypto, so I will support it”.
Musk mentioned that while wealthy investors were supporting Bitcoin, he wanted to endorse a cryptocurrency popular with the general public, which led him to Dogecoin.
Tesla began allowing Dogecoin payments for its company merchandise on January 14, 2022, with a caveat that non-Dogecoin digital assets sent to the company would not be returned.
Upon seeing the ‘XPayments’ account created by Musk’s X(formerly Twitter), some members of the crypto community pondered if cryptocurrencies would be integrated into X’s upcoming payment feature.
Expectations are high for the X app’s introduction of in-app payment services around mid-2024.
While fiat currencies are likely to be supported by the new payment feature, it remains unclear whether digital assets like Dogecoin will also be included.
Read also: Peter Schiff regrets not buying bitcoin despite prior criticisms
