Dogecoin Owners Can Now Buy Tesla Cars With The Currency—But Indirectly
Image via Tesla and photo ID 110232751 © Jiri Hera | Dreamstime.com
Tesla used to accept payments for its electric vehicles (EVs) in Bitcoin, but later stopped this due to environment concerns, citing the use of fossil fuels and its detrimental impacts as the reason in a statement on Twitter.
However, founder and CEO Elon Musk has expressed interest in accepting cryptocurrency again. In particular, Dogecoin, a meme-based currency that Musk is a fan of. He has declared it to be “pretty cool” and “might be [his favorite] cryptocurrency.”
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
But it won’t be a direct transaction; a third-party company called Bots Inc will offer merchants Bitcoin payments for their EVs, having consolidated with Mark Cuban and Musk himself. Cuban’s claim that Dogecoin is the strongest cryptocurrency was backed up by Musk.
The EVs bought via the company will be pre-owned, but used Tesla EVs still fetch a pretty penny. According to Bots Inc’s press release, a Model 3 can sell for up to US$53,000. Due to the ongoing chip shortage and production delays, used cars aren’t expected to fall in value anytime soon.
Bots Inc will allow merchants to buy cars using other currencies besides Dogecoin, though it doesn’t state exactly which. Nevertheless, this makes it one of the first ever publicly traded companies to accept Dogecoin as payment, and it surely won’t be the last.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
[via Bitcoinist, image via Tesla and photo ID 110232751 © Jiri Hera | Dreamstime.com]
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