According to a recent update on Tesla’s official website, there is a detailed page on Tesla’s acceptance of Dogecoin as one of the payment methods. It means that some products currently support DOGE payment. Such products will display the Dogecoin symbol next to the order button. When checking out, buyers only need to transfer Dogecoin to the Tesla Dogecoin wallet for payment.
Tesla pointed out that all eligible Tesla products will be clearly priced in Dogecoin, and the selling price will include any applicable taxes and fees. When making Dogecoin payments, there are some things to pay attention to, including single Multiple wallet payments are not accepted for orders, orders cannot be canceled once placed, and returns are not applicable to items purchased with Dogecoin.
Tesla emphasized that it currently only accepts Dogecoin for payment. Any other digital assets sent by the buyer may result in the loss of the assets. Non-Dogecoin digital assets sent to Tesla will not be returned to the buyer.
In March this year, Musk said that at some point, Dogecoin would be allowed to be used to purchase Tesla electric vehicles. He also explained why he supports Dogecoin, saying that when he inspected Tesla and SpaceX factories, many Employees will ask him if he can support Dogecoin, so he will support Dogecoin because Dogecoin is the people’s cryptocurrency.
Dogecoin surges
Although Tesla’s official website has been accepting the use of Dogecoin to purchase some goods (only supporting the purchase of clothing, toys and other peripheral products) starting in 2022, this update of Dogecoin payment instructions may mean that Tesla will gradually Easing restrictions on cryptocurrency payments.
Perhaps inspired by this news, Dogecoin once surged to US$0.17 yesterday and was trading at US$0.157 at the time of writing, an increase of 5.3% in the past 24 hours.
Will Bitcoin payments be restarted?
What is even more noteworthy is that Tesla purchased US$1.5 billion in Bitcoin in February 2021 and began accepting Bitcoin payments in March 2021, causing Bitcoin to soar. In March, it announced a suspension of Bitcoin payments, saying that Tesla was concerned about the rapid increase in fossil fuel consumption in Bitcoin mining and transactions.
Extended reading: Big news! Musk: Tesla suspends accepting "Bitcoin payments" because mining is not environmentally friendly; BTC falls below 50,000
However, Musk has stated that Tesla does not rule out restarting Bitcoin payments in the future. As long as Bitcoin miners use reasonable (about 50% proportion) renewable energy and there is a positive future trend, Tesla will Re-accept Bitcoin payments.
At present, miners are continuing to use renewable energy, and perhaps we will see the day when we can use BTC to buy Tesla again soon.
