Musk’s Endorsement Sends Dogecoin Soaring by 15%

Elon Musk suggested that one day Tesla electric cars could be purchased with Dogecoin. The businessman made this statement during a visit to his company’s factory in Berlin.

Elon Musk at Giga Berlin today.

“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.” ?? pic.twitter.com/Suk7bifuHC

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) March 14, 2024

The question about adding the meme coin as a payment method was posed by a Tesla employee.

“At some point, I think we should enable that,” Musk replied.

The entrepreneur revealed that employees at Tesla and SpaceX have repeatedly asked him to support Dogecoin as an official payment method. According to Musk, this indicates that the meme coin is favored by the general public.

“Doge is the people’s cryptocurrency, so I will support it. Dogecoin to the Moon,” Musk declared.

He also mentioned that since January 2022, Tesla has been selling its merchandise for Dogecoin.

Amid the video’s popularity, the price of the meme coin rose by 15%. At the time of writing, it is trading at $0.1845, according to CoinGecko.

In early February, Geometric Energy Corporation rebooked a launch with SpaceX to the Moon for the DOGE-1 satellite. The mission is fully paid for with Dogecoin.

Earlier, experts from the analytical platform Arkham Intelligence tracked cryptocurrency wallets belonging to Elon Musk’s companies Tesla and SpaceX and calculated the amount of Bitcoin they hold.