Elon Musk's Statements Regarding Tesla Have Boosted Dogecoin's Price And Provided It With Significant Momentum.

After receiving requests from Tesla factory employees and SpaceX visitors to accept Dogecoin as an official payment method, Musk began to support Dogecoin.

On March 13th, during an interaction at the Berlin Gigafactory, Tesla CEO Elon Musk responded positively to a question about whether Tesla would add DOGE as an official payment method in the near future. Musk stated, "I think we should make it possible at some point."

Musk's statement led to a sudden increase in the market price of Dogecoin and sparked excitement among investors. Following this response, Dogecoin surged in popularity on X, rising by 9.3% from $0.172 to $0.188.

Elon Musk at Giga Berlin today.

“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.” 😂🔥 pic.twitter.com/Suk7bifuHC

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) March 14, 2024

Musk reiterated his support for Dogecoin by stating that fans can still use DOGE to purchase Tesla products and by repeating the phrase "Dogecoin to the moon."

Musk initially began supporting DOGE after some individuals at the Tesla Gigafactory requested the CEO to accept Dogecoin as an official payment method. A similar request was conveyed to him by visitors at SpaceX, who sought support for Dogecoin:

"Doge is people's crypto, so I support it," he said.

According to Musk, while Bitcoin is supported by numerous wealthy individuals, the renowned billionaire wanted to endorse a cryptocurrency preferred by the general public.

Tesla started accepting Dogecoin payments for company products on January 14, 2022. At that time, the company announced that it only supported Dogecoin payments and that other "non-Dogecoin digital assets sent to Tesla would not be refunded to the sender."

Under Musk's leadership, the "everything app" X (formerly known as Twitter) recently created an 'XPayments' account, fueling speculation about potential integration with cryptocurrencies for the upcoming payment feature.

It is expected that by mid-2024, the X app will offer in-app payment services. However, it is yet to be confirmed whether this new feature will support only traditional currencies or cryptocurrencies as well, and whether Musk will follow his vision of embracing Dogecoin as a widespread payment method.

You can stay up-to-date with the latest developments and news in the cryptocurrency markets on Kriptospot.com.