Tesla boss Elon Musk has once again caused his favorite token Dogecoin to rise in price. He announced that he would accept DOGE as payment at the supercharging stations in Santa Monica, as he did in a corresponding tweet communicated. Dogecoin’s price surge followed.
A little later, Rayan Zohoury, the founder of Tesla Console, tweeted a photo of the almost full supercharging station in the Californian city, which is right next to Los Angeles. Musk responded that he plans to open a restaurant or a drive-in movie theater at the supercharging stations. Customers could also make payments there in the form of Dogecoin.
Tesla accepts Dogecoin for merchandising
Musk is continuing a development in which Tesla is testing Dogecoin as a means of payment for certain of the company’s goods. It accepts Doge on clothing such as t-shirts or hats, as well as belt buckles and mini models of his vehicles and the CyberQuad for children.
Bitcoin’s transaction value is low and the cost per transaction is high. It is therefore suitable, at least on a spatial level, as a store of value. But fundamentally, Bitcoin is not a good substitute for a transaction currency
Musk said in an interview with the Time Magazine, which named him “2021 Person of the Year” in a controversial poll. Musk has often sided with the Dogecoin developed in 2013 by software engineers Billy Markus and Jackson Palmer. As a faster alternative to Bitcoin, DOGE created a loyal fan community soon after its introduction. The memecoin Shiba Inu (SHIB) has appeared as a competitor in particular in the past year. In terms of market capitalization, this DOGE had in part even overtaken it, but is currently ranked behind again.
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