Tesla, the largest carmaker by market cap, has enabled Dogecoin payments months after halting BTC settlements due to environmental issues. As a result, the price of DOGE went up in double digits.
- It is no secret that Elon Musk, the current richest person, is a fan of the original Memecoin – Dogecoin. However, his support recently went to another level, as Tesla, one of the companies he leads, decided to enable DOGE payments for its products.
- The company explained that users wishing to opt for the Memecoin option must have such a wallet, and they can transfer funds via an alphanumeric code or QR code once connected.
- The EV giant promised to update their prices soon to reflect those in DOGE, but as of now, they are still in fiat currencies. All Tesla products will “obviously be priced in Dogecoin.”
- Tesla also warned potential DOGE customers that orders placed with Memecoin “can no longer be cancelled.” Additionally, all such purchases are “final sales” and cannot be returned, exchanged or cancelled.
- The company emphasized that Dogecoin is the only cryptocurrency it accepts. Recall that the firm enabled bitcoin payments last year but halted the initiative months later, citing environmental issues.
- DOGE jumped 30% from a monthly high of $0.16 to $0.21 shortly after the news went live. So far, Memecoin has retreated a bit and is just shy of $0.2.
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