Elon Musk, the CEO of electric car manufacturer Tesla, constantly posts on Twitter, some of which may seem like long-forgotten promises now. However, the company recently took a monumental step forward, as its online merchandise store officially accepts Dogecoin as a payment method.
If you’re regularly on the popular social media platform Twitter, then you’re probably aware that Musk is known for often tweeting up a storm. Last May, he asked his followers if they wanted Tesla to accept Dogecoin through a Twitter poll. Nearly 4 million users voted, with the final results showing more than 78% of participants voting yes. It hasn’t even been a year yet, but it seems that Musk is keeping his word.
This isn’t the first time that Musk made good on his promises. In late 2021, the Tesla CEO once again asked his followers in a poll if he should sell 10% of his Tesla stock holdings. Knowing his proven track record of abiding by his promises, it doesn’t come as a surprise that Tesla now accepts Dogecoin. It’s worth mentioning that not all products on the online shop accept Dogecoin. For now, it’s only a select few.
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
Another intriguing thing about Tesla’s new payment method is that the items that do accept Dogecoin are priced in DOGE. In other words, the price of these items would also drop if Dogecoin’s market price decreases. This is most likely why not all the products on the site are available in DOGE yet.
Since Dogecoin’s value dropped by nearly 80% from its all-time high earlier this week, many DOGE holders are quite pleased by this news. However, the original meme coin’s value has already risen by almost 10% at this time, which means that the products on Tesla’s online shop also cost more now.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
https://twitter.com/CryptooIndia/status/1481858794812772352?s=20
While crypto enthusiasts will undoubtedly rejoice due to this new advancement, we don’t know for certain how many DOGE holders will use their coins for commerce. When Tesla introduced Bitcoin payments, the reaction from the community was quite underwhelming. However, things could be different now that the company focuses on merch instead of cars with prices that can go as high as six figures.
