Would You Buy a Tesla with Dogecoin?
Things aren’t always that easy, but it didn’t stop us from asking the question Would you spend your Dogecoin for a Tesla car? Some months have passed, and there’s a lot of talk going on about Tesla again.
Would you pay for a Tesla car using Dogecoin?
Would you pay for a Tesla car using Dogecoin? Now we know Elon Musk is a big advocate of Dogecoin. Not only does he say he owns some along with Ethereum and bitcoin, he tweets a lot about Dogecoin. We know that he bought a lot for his son, Little X, and he bought a Shiba Inu pup and aimed at Floki because of Dogecoin, not because of the Shiba Inu token and that the Floki token.
Tesla still has about $1.5 billion in Bitcoin. in 2021, they might make more money on the price going up of bitcoin and the Bitcoin that they bought back in January than selling all their cars. But we still think it’s only a matter of time before they change that and start accepting cryptocurrencies again. That’s what they said in the filing.
During three months, we accepted Bitcoin as a payment for sales of certain of our products in specified regions subject to applicable laws, and suspended this practice in May 2021. Tesla suspended accepting Bitcoin as payment because of the energy used.
Elon, as well as the Tesla company was getting a lot of heat about the mining that is used for Bitcoin transactions uses a lot of energy and Tesla as a green company, electric vehicles and such that consuming that much energy as payment for cars looks pretty bad.
So if Tesla was going to accept more than one cryptocurrency as payments, which would they choose?
In this SEC filing the language that was used. They said they suspended Bitcoin payments but when they said they would begin to start accepting cryptocurrency payments again in the future they didn’t say Bitcoin payments. They said cryptocurrencies to leave the door open for more than one. Obviously, Bitcoin would be one. Or Ethereum and Dogecoin.
Twitter people would want Tesla to accept DOGE as payment for cars. And with AMC now accepting Bitcoin and Ethereum and soon Dogecoin, it makes a lot of sense for those three to be the ones that Tesla would announce that they were accepting. We know people are probably not going to be spending their Bitcoin on a Tesla Bitcoins the store of value.
So if Tesla started accepting Dogecoin right now as payment, how many of you would actually be spending it right now? Mark Cuban obviously sees this right. And he started accepting payments in Dogecoin for Dallas Mavericks merchandise. People were spending their Dogecoin there.