Elon Musk – the South African entrepreneur behind billion-dollar companies such as Tesla and SpaceX – wants your opinion regarding Tesla accepting Dogecoin payments in the future.
Elon Musk Wants to Know if Doge Payments Are the Right Thing
The famed technician has taken to Twitter to ask his followers if Tesla should move forward in its crypto-themed journey and accept Doge for products and services. Apparently, the question is deemed important amongst his social media fans as within ten minutes of posting the question, approximately 400,000 people took to Twitter to provide their answers, and as many as 80 percent of participants have voted in favor of Doge payments in the coming future.
Tesla and Elon Musk have been huge promoters for the world of digital currency. Tesla may not have been one of the first institutions to pledge support for bitcoin, but it sure bought a whole lot of it three months ago. The electric car company set a record by purchasing as much as $1.5 billion worth of bitcoin last February.
Musk has also been a longtime fan of the world’s number one digital currency by market cap, though over the past few weeks, he appears to have shifted his attention over to Doge, which has seemingly become the fourth largest digital currency in the world and was recently trading as high as 69 cents.
Following the bitcoin purchase, Tesla also made headlines when it announced that it would permit bitcoin payments for all products and services offered by the company, making it one of the first major firms to adhere to bitcoin’s initial purpose. Bitcoin and digital currencies were always designed to serve as payment currencies, though their volatility has consistently gotten in the way.
These assets can go up and down at a moment’s notice, and thus many retailers have said “no” to accepting crypto payments for products, but this past year has seen several businesses starting to ease up a bit, one of which has been Tesla.
If Elon Musk is serious about accepting Dogecoin in the future as a payment method, he will need to be very careful about what he says and does with it. For example, last weekend saw the entrepreneur hosting the popular sketch comedy program “SNL.” Two skits about Dogecoin involving Musk ultimately caused the currency to drop heavily in price, though at press time, it has recovered somewhat.
Watch Your Mouth!
If he agrees to accept Dogecoin as a method of payment, the fluctuations it is likely to endure will no doubt affect his company, and he will need to be mindful of what he says about it considering anything can potentially send it through a tunnel of disarray.
Aside from this, Musk has also stated that he will be launching a new satellite he is calling “Doge-1” to the moon in 2022. It will also be fully funded by cryptocurrency.