Elon Musk keeps its promises. The number one of Tesla announced, through a post published on Twitter, that it will be possible to buy some products with Dogecoin, the cryptocurrency meme of which the South African entrepreneur is a great supporter. As expected, the news triggered an avalanche of purchases on the digital currency, which in the morning recorded a growth of 14% to 0.20 dollars.
The news was announced a month ago, when he declared that “Tesla will allow the purchase of some goods and products with the Doge and we will see how it goes”. In short, the one leaving in these hours appears more a test than a definitive decision.
With the introduction of this novelty, Tesla has also opened a dedicated page where you can find all the information on how to buy products compatible with cryptocurrency. The introduction of Dogecoins as a form of payment only concerns the American shop of the car manufacturer. And some products.
Dogecoin: Musk’s beloved digital currency
Dogecoin is one of the most volatile digital currencies: created in 2013 by two software engineers from Ibm And Adobe, is based on the meme of a Shiba Inu dog. In 2021 it climbed by 15,500% in 2021 and then slowed down.
Elon Musk has always been very interested in the world of cryptocurrencies. In February 2021, it announced $ 1.5 billion in Bitcoin investments. Last year, it allowed its customers the ability to pay for the purchase of its electric cars with this cryptocurrency. But then he thought about it again, in light of the negative effects on the climate. Cryptocurrency miners are engaged in an activity that notoriously requires large amounts of electricity.
At the same time, Tesla’s CEO had always spoken highly of Dogecoins suggesting future adoption as a form of payment. In December 2021, therefore, the announcement of the imminent use of this cryptocurrency in the online shop had arrived, which has now materialized.
All this even if to date there is no evidence that the energy used to produce Doge is lower than the others since it also requires a great computing power and a large stratospheric energy consumption and the consequent damage to the environment.