Tesla will begin accepting Dogecoin as a payment method at Tesla Supercharging Stations as per a tweet from Elon Musk, CEO of Tesla.
Rayan Zohoury, the founder of Tesla Console, an app store for Tesla’s tweeted how a mere 10 minutes after the announcement they would accept Dogecoin supercharging stations were full! Elon Musk replied with plans of opening diners and drive-in cinemas at the supercharging stations, where they would also be able to make payments with Dogecoin.
This comes after the recent news that Tesla would begin accepting Dogecoin as payment for their merchandise. “Tesla will make some merch buyable with Doge and see how it goes,” Musk said in a tweet – a good decision looking back now.
Why Dogecoin?
Elon Musk is an avid supporter of Dogecoin, although it was started as a “joke”. It has gained a lot of traction over the years.
You may wonder why Elon Musk has decided to utilize Dogecoin over an overall better cryptocurrency like Bitcoin from a technical aspect. Here’s a statement Elon made after an interview with Time Magazine:
The transaction value of Bitcoin is low, and the cost per transaction is high. Therefore, at least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency.