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The world’s richest man, Elon Musk, has broken his silence on when customers will be allowed to use Dogecoin to purchase Teslas. Musk also explained why he is so fond of the meme coin and has continued to support it all this while.
Tesla Will Enable Dogecoin Payments “At Some Point”
While addressing employees at the Berlin Gigafactory, Musk mentioned that they will enable Dogecoin payments for Tesla “at some point.” He recognized that DOGE is already used for buying Tesla Merchandise, which he labelled “cool.” The world’s richest man also shared his bullishness on the meme coin, stating, “Dogecoin to the moon.”
Musk has been known to have a likeness for the meme coin and has endorsed it at different times. The world’s richest man explained that the reason he continues to endorse the foremost meme coin is because he has come to realize that it is the “people’s crypto.” He gave a story of how people at some regular employees at Tesla and SpaceX kept asking him to support DOGE, which he eventually obliged.
As part of his support for DOGE, Musk already decided that the meme coin will be integrated as a payment method once the Tesla Supercharging Station in Hollywood finally launches. The crypto token has also found utility in Musk’s Space X as the deal with Geometric Energy Corporation (GEC) has been solely facilitated using DOGE payments.
Musk’s fondness of DOGE is also why there continue to be speculations that DOGE payments could be integrated into X Payments. X (formerly Twitter), which Musk owns, is expected to roll out its payment service this year.
Elon Musk’s Comment About DOGE Is Timely
Like every one of his previous remarks on DOGE, Musk’s recent statement has provided a much-needed boost for the foremost meme coin. The crypto token, which was seeing a sharp decline, rebounded on the back of the world’s richest man’s comments and has made substantial gains since then.
Musk’s reaffirmation of his commitment to DOGE also comes at a time when the token needs every bullish narrative to maintain its crown as the most valuable meme. Other top meme coins like Shiba Inu (SHIB) and Dogwifhat (WIF) have shown they are ready to topple Dogecoin.
Specifically, Shiba Inu’s lead developer, Shytoshi Kusama, boldly claimed that SHIB would lead in this market cycle. The WIF community is also taking matters into their own hands, having recently finalized plans to project WIF on the Las Vegas Sphere. Therefore, Musk’s support for Doegcoin might prove vital in the battle of the memes.
At the time of writing, DOGE Is trading at around $0.1853, up over 7% in the last 24 hours, according to data from CoinMarketCap.
Featured image from USA Today, chart from Tradingview.com
