Popular meme asset Dogecoin (DOGE) is rising after Tesla CEO Elon Musk hints that the electric car company may accept DOGE payments in the future.
Speaking at Giga Berlin, a manufacturing plant for Tesla in Germany, the longtime Dogecoin proponent and billionaire was asked when Tesla would be accepting the dog-themed digital asset as payment for its vehicles.
The business magnate responded that it could be a possibility in the future, noting that consumers can already use DOGE to purchase Tesla merchandise.
“When can you buy a Tesla with Dogecoin? At some point, I think we should enable that. You can buy Tesla merch with DOGE, which is cool, so Dogecoin to the moon.”
Musk goes on to explain that he first became a fan of DOGE after he realized that normal people were enthusiastic about it.
“In fact, a lot of people maybe don’t know the reason that I actually ended up sort of endorsing Dogecoin was that I was walking around the factory at Tesla and some people, they were just working the line, not rich people or anything, and they said, ‘Can you support DOGE?’
And also, I was at SpaceX, walking the factory and some regular guys said ‘Hey, can you support DOGE?’ And I was like, ‘Hmm, you know what? DOGE is the people’s crypto, so I will support it because lots of rich people were supporting Bitcoin, but I was like, ‘Huh, if people in line want me to support DOGE, I will support DOGE. DOGE is for you.”
In the hours following Musk’s comments, DOGE leapt from a 24-hour low of $0.166 to a 24-hour high of $0.189, a nearly 14% jump. Dogecoin has leveled off since and is trading for $0.173 at time of writing, a 3.68% gain during the last 24 hours.
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