Move aside Bitcoin and Etherum, Elon Musk wants the people to buy Tesla Model S/3/X/Y and the company’s products in Dogecoin. Tesla and Space X CEO took to Twitter earlier this morning and asked his followers if Tesla should accept Dogecoin.
More than 2 million voted ‘yes’ (77% of the respondents) as Dogecoin saw a brief price spike from $0.46 to $0.52. Currently, the people’s cryptocurrency hovers at $0.51 which is well below the all-time high before Elon Musk made an appearance during the Saturday Night Live (SNL).
Tesla already accepts Bitcoin as a payment option in the United States. But the electric automaker is looking to expand its payment capability outside of the United States as it explores additional options to pay with cryptocurrency like Dogecoin.
Dogecoin, currently known as the people’s cryptocurrency, has a significant advantage over Bitcoin and Etherum for three reasons. First and foremost, the transaction time is fast — at least 10 times faster compared to Bitcoin and Etherum.
Furthermore, the transaction fee is very low which makes Dogecoin a very attractive choice to invest in and to shop around with. Lastly, it is very easy to purchase and own Dogecoin thanks to the low cost per share which makes it simple for the people who might not have too much money to buy and own.
Elon Musk dubbed himself as the Dogefather said that Dogecoin might be his favorite cryptocurrency. Tesla’s share price fell to $589 during the pre-market hour due to halting the construction of the Shanghai Gigafactory plant expansion.
Tesla’s sales have been growing amid the recent standoff between the United States and China, breaking a record delivery result of more than 184,000 in the first quarter.
The electric automaker announced a few weeks ago that they are bringing back the flagship car program and will produce refreshed Model S / Y which is expected to start delivering between Q3 and Q4.
The Tesla Cybertruck is also in production and will be entering the market by end of 2021. The company is undergoing rapid expansions such as the construction of the Berlin Gigafactory which will start producing Model Y and more recently the Texas Gigafactory that will be completed by end of May 2021.
As the stock market is taking a beating, Tesla will have some of the best models to offer by end of the year — and soon enough you might buy one of the Tesla Model in Dogecoin.
Are you excited about the possibility of purchasing Tesla’s electric vehicles with your Dogecoin? Let us know what you think in the comment section below! We are looking forward to hearing from you!