Elon Musk has just reiterated his promise to make it possible to buy a Tesla with Dogecoin. Could Bitcoin’s failure have been digested?
These are the kind of lines that only Elon Musk is able to come up with. While the world of cryptocurrencies is going through a moment of relative calm, and everyone is slowly preparing for the end of the year celebrations, relaxing for a few moments the evolution curves of the various reference values. Here is Elon Musk throwing a stone in the pond.
It would be difficult to have gone through the past year without knowing what it is when it comes to cryptocurrency. The Dogecoin, if it is not the most valued currency of the moment, which was turning below 15 cents of dollars a few days ago, nonetheless remains an extremely popular crypto. Especially with regard to the people who follow Elon Musk.
The latter had indeed given an incredible boost to this cryptocurrency, literally coming out of nowhere a little over a year ago. With its shiba symbol, this crypto is above all a huge joke as the internet sometimes knows how to make. When a whole group of people, more or less influential in the world of cryptocurrencies and virtual currencies, decide to follow their hoax.
Dogecoin: Elon Musk’s crypto
But very quickly, things got a lot more serious. While Dogecoin was making the crypto world panic, its most fervent supporters were already seeing it dethrone Bitcoin. Him the people’s currency for example born from a simple joke on Twitter, he was taking control.
Well finally, with time things calmed down, and Elon Musk’s tweets encouraging the purchase of Dogecoin gradually disappeared. But the boss of Tesla and SpaceX, always very skilled in his communication on social networks, has not said his last word. And while an attempt to sell Tesla with Bitcoin failed a few months ago, cryptocurrencies being far too polluting to be able to be used as currency for the purchase of an electric car that wants to be one can be more ecological.
Bitcoin will therefore not have the right to its place on the Tesla store, which is already fairly well established in the market for online sales of all kinds and which is beginning to make a place for itself in the institutional world, in particular at United States, where the mayor of New York, but also that of Miami, asked to be paid with cryptocurrency.
Finally a utility for the Doge?
With regard to Dogecoin, the latter, although still valued in the best positions, has the greatest difficulty in making a place for itself in the online sales market, and there are few opportunities to spend this crypto, which does not become more than an object of speculation.
And it is very precisely here that Elon Musk decided to put his two cents in. The boss of Tesla has indeed claimed that Dogecoin could soon make it possible to buy a Tesla. The website of the Texas firm will soon accept payment with this cryptocurrency.
As often with Elon Musk, it remains fashionable to remain reasonable vis-à-vis this announcement. No date, nor any formalization from the brand itself has yet been made, and such a change in the way you pay could take a long time for Tesla. One thing is certain, the crypto world has responded to Elon Musk’s call, and the price of Dogecoin has soared as rarely in recent times. It continues to rise and has already passed 20 cents. It remains to be seen whether this rise will succeed in stabilizing over time or if all of this will come down as quickly as it has risen.