Tesla To Accept Dogecoin At Its Supercharger Station In Santa Monica

Elon Musk has announced that Tesla will now be accepting Dogecoin as payment at its Supercharger station in Santa Monica. Taking to his Twitter account, Tesla CEO Elon Musk has confirmed that the Dogecoin will be one of the modes of payment at the Santa Monica supercharging stations. As expected, this announcement triggered a slight upward trend in Dogecoin’s value.

However, the 50-year-old business magnate did not confirm what customers can purchase using the meme-based cryptocurrency. Nevertheless, a report by IndiaTimes confirms that the Santa Monica Supercharger has become the first Supercharger in the EV maker’s network to accept crypto as a mode of payment. This is barely surprising, considering that Musk deemed Dogecoin “Egod” back in March last year. Many assumed that Tesla Supercharger stations will start accepting DOGE.

Elon Musk Announces Tesla Will Accept Dogecoin At Supercharging Station

Some people interpreted the aforesaid tweet from Tesla’s chief executive differently. They assumed that the Dogecoin will only be accepted in the Hollywood area’s upcoming diner and drive-in theatre. Moreover, Tesla Console app store founder Ryan Zohoury tweeted that the Santa Monica supercharging stations were teeming with customers following Musk’s announcement. To recall, Tesla tested the water by selling its select merchandise for the cryptocurrency back in December 2021.

Now, it looks like SpaceX will soon enable DOGE payments as well. This speculation surfaced as Dogecoin was discovered in the source code of Musk’s aerospace company earlier this week. On top of that, Musk hasn’t shied away from confirming that SpaceX and Starlink will both accept Dogecoin payments in the future. Although the announcement lead to a slight uptick in Dogecoin’s value, it soon dropped back to the original levels.

Boosting Dogecoin’s Value

Last year, the market value of Dogecoin skyrocketed 400 percent in just a week. However, the cryptocurrency’s anonymous founder Shibetoshi Nakamoto is not pleased with people asking him to increase Dogecoin’s value to a dollar. Furthermore, Nakamoto claims that a lot of Dogecoin supporters try to grab his attention by making inquiries about boosting the value of dog-themed cryptocurrency’s price. However, Nakamoto says they act as if they mean something different.

Nakamoto said some Dogecoin supporters indirectly message him. They urge him to increase the price of a unit of the cryptocurrency to $1. To achieve this, they urge him to restrict the number of the cryptocurrency that can ever roll out and even burn its supply. Nakamoto responded to these supporters in a tweet recently, stating that he can’t do what they ask because he does not own the protocols.

Aside from that, Nakamoto clarified that capping Dogecoin’s supply output will probably destroy DOGE’s security. Moreover, he claims this is a big risk, which isn’t willing to take.