According to the most popular billionaire of the decade, Elon Musk —Tesla is all planning to introduce crypto payments such as dogecoin.
The auto giant broke the news a few days ago on Twitter. You might be wondering over; did this just happen all of a sudden? No, the smarty witty Elon musk always booms in with some outrageous ideas and innovations.
Tesla has already made novel experiments on crypto payments for electrical cars. But at the time the payments were done through bitcoins.
Why Dogecoin? | Why is Tesla not going before any other famed cryptocurrency?
Seems like the Global pandemic has made companies take some up-to-the-mark moves. The same goes out for Elon Musk and Tesla which has been awarded the Person of the year.
Musk spilled the beans over his crypto move in a talk with Time magazine. He viewed it as,
Dogecoin is the best existing currency today among all other ones. It causes an expenditure from the people’s side, rather than stocking “as a store of value.”
While Tesla’s owner believed that Bitcoin isn’t a great substitute for transactional purposes. To add a fact here,
“Bitcoin’s transaction can never be a fruitful option as it has a higher cost per transaction whereas the volume per transaction is very low.”
However, in response to these drolling remarks from Tesla’s owner, Billy Markus (founder of dogecoin) also has two cents to say. He said that Musk has very little knowledge about money, digital money.
About Dogecoin:
You will be surprised to learn this about dogecoin. It was initiated as fun into the domain of crypto. While it has gained immense inspiration from Shiba Inu Dog. So the name is rightly linked as Doge-coin, don’t wonder.
After becoming a viral sensation, netizens went crazy over the hype of dogecoin. Musk played it very smartly.
Cryptocurrency to buy your favorite tesla is a real thing!
Soon after the announcement of the moto vehicle’s purchase through cryptocurrency, surges in the values went crazy. As far as Elon’s testament regarding digital purchases from Tesla is concerned, people welcomed it with great enthusiasm.
Whereas by then (March 2021), the sales from Tesla through crypto were only available in the United States of America. However, Musk also exclaimed over its prevalence in other countries by the end of the year, 2021.
Ironically, when there was an inclining drift in purchases through digital payments, Tesla stopped its acceptance. Why? By May, it became a serious threat with its high amount of energy usage, and carbon footprinting. Musk gave concerning remarks on his popular social media handles.
Key Facts on Tesla’s Dogecoin Hype you won’t miss out
This year Elon Musk’s frenzy tweets have remained the hype of the town throughout. Let’s check in to some facts begin the bars;
- In the outbreak of the great news, Musk mentioned the sale of “some merch” with the use of cryptocurrencies. He exclaimed over that “see how it goes”.
- The current merchandise of Tesla is too broad. Giga Texas belt buckles, mini models of its vehicle line, Cyberwhistle, Cybertruck, and Cyberquad, all in all, great apparel.
- The great vehicle giant hasn’t specified the list to be sold through the meme-inspired crypto coin.
- Elon Musk’s tweet made the doge coin’s worth rise up to 20% in a single day.
- Musk’s tweets on crypto have brought forward a fluctuating trend among several cryptocurrencies.
- However, the yearly surging trend of Dogecoin has hit the current record-breaking value of 5,859%.
Hence, to make a full-fleshed entry into the great Metaverse, Tesla has got smart plans. However, certain experts believe that this is a mere fun move or an attempt to combat the down shares in Tesla’s trading, this week.
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Elon Musk has been the most accurate title of “person of the year”. who knows he may be tweeting over purchase through NFTs since he’s got great brains for crypto trading.
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