Tesla accepts payments in Dogecoin but it is not possible to pay with everything, starting with cars.
Many cryptocurrency owners remember Elon Musk’s announcement about Bitcoin and Dogecoin. Two very popular virtual currencies that should have their place in the list of the brand’s means of payment. An announcement that shook the world of digital currencies, which had reached record amounts for the time at this time.
But faced with the revolt of part of public opinion, which considers that the production of cryptocurrencies, in particular with mining, is extremely polluting, Elon Musk and Tesla had to backtrack. In the end, the project was buried, but a glimmer of hope appeared a little over a month ago, when the entrepreneur from Pretoria revived the idea.
Payment in Dogecoin is here… but not everything is perfect
The latter has indeed announced that it will soon be possible to pay on the Tesla site using Dogecoin, a not really serious digital currency, which owes a large part of its success to Elon Musk’s inciting tweets. But while everyone already dreams of buying their car with cryptocurrencies, the reality is more complicated.
Indeed, not all the products present in the official Tesla store are eligible for payment in cryptocurrencies, and to tell the truth, there are quite a few that are. In the list of the chosen few, we find the Cyberwhistle, which as its name suggests is a whistle. The latter was sold for 300 DOGE, around 50 dollars, but it is already out of stock.
A few goodies at most
Among the other products still available (at the writing of this article), there remains the Gigi Texas Belt Buckle, a very Texan belt buckle perfect for a rodeo with the magnificent logo of the brand. But the most interesting product is certainly Tesla’s Quad for children, which is sold for more than 12,000 DOGE, today it corresponds to approximately 2000 €.
As a reminder, the product is offered for sale by Tesla for just under $2000, so it is more interesting to pay for it in good old American dollars (or euros) than in Dogecoin.
Tesla and Dogecoin: a linked fate?
If the payment options are quite few and the prices are drawn up, Tesla has achieved one thing, restoring value to Dogecoin. The cryptocurrency thus seems closely linked to the brand of electric cars, like the price of a share. Indeed, the rare moments of euphoria when its price climbs are when Tesla or Elon Musk make an announcement about it.
The rest of the time the crypto goes back down, wisely waiting for the next tweet from the richest man in the world. A theory that still holds true today. Indeed, Tesla announced to accept payment in Dogecoin, immediate result, the latter took +25% in just one morning. At the time of writing, the virtual currency is trading around 17 cents, which started the day at €0.149.