Tesla TSLA billionaire Elon Musk has caused the price of cryptocurrencies, including bitcoin and dogecoin, to swing wildly over the last year— while a "hundred-pound gorilla" gets "closer by the day. Now, Musk has reiterated his support for the meme-based dogecoin, praising its "transactional throughput" and that it doesn't take itself "too seriously"— despite a stark warning some cryptocurrencies "could fail.
Want to stay ahead of the market and understand the latest crypto news? Sign up now for the free CryptoCodex — A daily newsletter for traders, investors and the crypto-curious. Elon Musk, the chief executive of Tesla, has helped the dogecoin price soar over recent years amid a Initially created as "a joke," dogecoin has rocketed up the crypto rankings over the last 18 months after fading into relative obscurity in prior years.
The support of Musk and other high-profile investors such as Mark Cuban pushed the dogecoin price to around 70 cents last year ahead of Musk's much-hyped appearance on the comedy sketch show Saturday Night Live. After Tesla bought bitcoin last year, Musk embarked on a long-running campaign to upgrade dogecoin so it could "beat bitcoin hands down.
Earlier this year, Musk said he is still buying the joke bitcoin rival and will continue to support it. In May, Musk announced his rocket company SpaceX will follow Tesla in accepting dogecoin for merchandise. Tesla began accepting dogecoin for merchandise purchases in January. Sign up now for CryptoCodex —A free, daily newsletter for the crypto-curious. The dogecoin price has collapsed over the last year despite Elon Musk's support, falling along with This is a BETA experience.
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In a surprising turn of events, you can now buy Tesla merchandise with Dogecoin. Tesla's website has been updated to reflect this change, and there are a few items listed that now only accept the meme-like cryptocurrency as payment. That's right — the merchandise sold for Dogecoin can no longer be bought with US dollars and requires the customer to own crypto in order to make a purchase.
The Cybetruck-shaped Cyberwhistle listed for 300 DOGE, which is about $71 CAD, sold out quick
In a surprising turn of events, you can now buy Tesla merchandise with Dogecoin. Tesla's website has been updated to reflect this change, and there are a few items listed that now only accept the meme-like cryptocurrency as payment.
That's right — the merchandise sold for Dogecoin can no longer be bought Tron Tokens US dollars and requires the customer to own crypto in order to make a purchase. Tesla Dogecoin Store the Cyberquad is sold out and the only way to get one is through a reseller on eBay, this small change in the Tesla Dogeclin store was enough to make Dogecoin soar in Tezla.
According to Dogeciinthe cryptocurrency has gone up in value by It's not so much about the number of items for sale as it is about the acknowledgment of Dogecoin as a valid currency. But how long will it be until Tesla stops accepting Tesla Dogecoin Store as payment? The current good tides for Dogecoin started with Elon Musk's simple tweetannouncing that it is now a valid currency within the Tesla merchandise shop. The surprising fact is that Tesla went back Tsela accepting cryptocurrency as payment at all.
The company already had a brief stint with accepting Bitcoin as payment for its Tesla cars back in February However, it was short-lived due Trsla the carbon footprint left behind by bitcoin mining. As Musk himself has stated at the time, the environmental impact of BTC Bitcoin is simply too massive to ignore.
From that point on, the Tesla store didn't accept any cryptocurrency as payment. Tesla Dogecoin Store Tesla to acknowledge Dogecoin definitely means a lot to the enthusiasts of the currency, further validating their belief in its great future. The only question is: How long will Elon Musk stick to accepting crypto as Dogeoin this time? While Dogecoin is mined on a much smaller scale than Bitcoin, it still has the same adverse impact on Dogexoin environment — only to a smaller extent.
While Dogecoin enthusiasts rejoice, the Tesla Dogecoin Store of backlash Tesla will receive Bitcoin To Dogecoin Exchange this choice remains to be seen. Dogecoin Added To Tesla Store. By Monica J. Will Dogecoin last longer than Bitcoin in the Tesla store?