Tesla, Inc. TSLA-2.21%+ Free Alerts CEO Elon Musk continues to create a flutter amid the Dogecoin
DOGE community with his occasional tweets supporting the dog-themed crypto.
What Happened: Musk said Tesla will accept Doge payment at the company’s new Santa Monica supercharging station, sending the meme currency spiking, although momentarily.
The Tesla CEO’s statement came in response to a tweet by teen developer Rayan Zohoury, who is credited with the founder of Tesla Console, the first Tesla app store.
Zohoury said in the tweet that barely ten minutes into the opening of the station, the stalls are almost full. He also recommended checking out the app he created while cars being charged at the station.
Musk replied in the thread that a futuristic diner/drive-in theater is planned for the area, and then went on to say Doge will be accepted as payment.
It’s not very clear as to whether the Doge payment Musk referred to is for charging or the planned diner/drive-in theater.
Why It’s Important: Musk’s reply that was timestamped at a little over 8 pm Friday took Doge into positive territory. The meme currency rose to a peak of $0.145691 around 1:40 a.m. on Saturday before pulling back.
Tesla’s Musk is a staunch Doge backer. He is of the view that Dogecoin has a better transactional value than Bitcoin BTC, as the former has a much higher potential than the latter in terms of transactions per day. Recently, Musk tweeted that he will eat a happy meal on TV if fast food chain McDonald’s MCD -0.13% accepts Doge payment.
As far as the Doge is concerned, it is continuing to languish in the year-to date period amid the crypto market downturn. At last check, Doge was seen trading up 1.05% at $0.1422.