Dogecoin Payment Option Revival on Tesla Website
Elon Musk’s favorite cryptocurrency, Dogecoin, may be making a comeback as a payment option on Tesla’s website. In January 2022, Tesla started accepting Dogecoin for certain merchandise purchases on its online store. However, at some point, Dogecoin mysteriously disappeared as a payment option, leading fans to request its return on X.com, which Musk owns. Musk has shown interest in reintroducing Dogecoin as a payment option for Tesla merchandise.
Tesla’s Cryptocurrency Policies and Sustainable Energy
Tesla’s crypto payment policy has raised questions, especially in light of Musk’s previous statements about using Bitcoin for transactions once mining transitions to more sustainable energy. However, cryptocurrencies like Bitcoin and Dogecoin require significant energy for transactions, raising concerns about their environmental impact. This has led to criticism from environmentalists and investors regarding the contradiction between Tesla’s clean energy initiatives and its support for energy-intensive cryptocurrencies.
Legal Issues and Dogecoin Pyramid Scheme Allegations
Recent legal drama involving Elon Musk includes the dismissal of a federal lawsuit accusing him of manipulating Dogecoin prices through insider trading. The lawsuit alleged that Musk inflated Dogecoin prices significantly and then allowed them to crash, causing losses for investors. However, the court found the allegations unsubstantiated and stated that Musk’s statements about Dogecoin were aspirational rather than factual. The lawsuit dismissal raises questions about the future use of Dogecoin as a payment option on Tesla’s website.
