Elon Musk pointed out the possibility that Tesla may accept Dogecoin as a payment method in the future. This took place during a public interaction at the Berlin Gigafactory. Musk's positive reaction resulted in a 6.4% increase in Dogecoin price. He has previously supported Dogecoin due to its popularity among the public, comparing this to Bitcoin's support, which comes mainly from the wealthy. Tesla was already accepting DOGE for product purchases since January 2022.
Tesla hints at DOGE payment activation
Elon Musk reportedly hinted that Tesla may accept Dogecoin (DOGE) as an official payment method "at some point." While Musk was interacting with the public at the Berlin Gigafactory, a Tesla manufacturing facility, on March 13, someone in the audience asked if Tesla could be purchased using DOGE in the near future. Musk responded positively, saying, "I think we need to enable it at some point."
Investors jumped on Musk's response and the token price skyrocketed. Dogecoin reacted by jumping from $0.172 to $0.188 and currently sits at $0.181 at the time of writing. This represents a 6.4% increase as the video gains traction on X.
Musk's approach to DOGE
Tesla CEO said fans can still use DOGE to buy Tesla products and reiterated that "Dogecoin will go to the moon."
Musk first endorsed DOGE after Tesla Gigafactory employees urged the CEO to support Dogecoin as an official form of payment. A similar request was made to SpaceX by visitors requesting support for Dogecoin. This was ultimately accepted and "Doge is the people's cryptocurrency, so I will support it."
He says Bitcoin has a lot of support from rich people. That's why he wants to support a cryptocurrency that is more popular among the public.$DOGE
