Tesla CEO Musk, known for his interest in cryptocurrencies, hinted at the possibility of Dogecoin (DOGE) being adopted as payment for Tesla cars. Musk, often referred to as the “Father of Doge” for his support of Dogecoin, made the announcement during a meeting at the Tesla Gigafactory in Berlin, Germany.
After Musk’s comments, the price of DOGE increased by 8.4% to $ 0.1876. This sentiment has also led to price increases for other Musk-related Tokens such as Grok (GROK) and Optimus AI (OPTI). The global cryptocurrency market also benefited from this; Bitcoin reached its all-time high of $73,777 on the same day.
Musk’s interest in Dogecoin is not new. He has previously praised the cryptocurrency, calling it the “people’s cryptocurrency” and mentioning support several times since 2021. Musk’s continued support may have contributed to the recent rise in DOGE’s price.
Although Tesla has accepted Dogecoin as a payment method for products since 2022, Musk’s announcement expressed his hope that Dogecoin will become a payment method for Tesla cars in the future. The news was enthusiastically received by DOGE holders, who were excited about the cryptocurrency’s potential as a universal payment method.
However, it is not yet known when Tesla will allow Dogecoin to pay for its cars. Musk’s comments indicated this could happen “at some point” but did not give a specific time frame. Still, the possibility of Tesla accepting Dogecoin has caused excitement among cryptocurrency enthusiasts and meme coin supporters, leading to further speculation about its future.
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