Elon Musk Suggests DOGE Comeback as Payment Option for Tesla Merch
The suggestion came after the tech billionaire and his company won a class-action lawsuit.
The lawsuit accused them of manipulating DOGE’s price.
Tesla co-founder and CEO Elon Musk has hinted at a possible comeback of Dogecoin (DOGE) as a payment option for acquiring the motor company’s merchandise.
The electric car manufacturer began to accept DOGE payments for some merch on its websites in January 2022. However, the payment option mysteriously disappeared from the website after some investors sued Musk and his company for allegedly manipulating the cryptocurrency’s price. Sponsored
While the lawsuit sought about $258 billion in damages, U.S. District Judge Alvin Hellerstein dismissed it on August 29, citing that Elon Musk’s comments about DOGE were “aspirational and puffery,” rather than factual claims to mislead investors. The judge also dismissed the “pump and dump” allegations brought by the investors as “unfounded.”
Musk Hints at DOGE Return
Two days after the lawsuit was dismissed, Elon Musk wrote “Me” in response to an X post asking whether anyone wanted Tesla to “bring back the Dogecoin payment option for merch.”
Given the tech billionaire’s public support and fondness for DOGE, the cryptocurrency’s comeback at Tesla wouldn’t be a surprise. Before the lawsuit dismissal, Musk heralded Dogecoin as “the people’s crypto” while speaking at Giga Berlin in March.
“You know what? Dogecoin is the people’s crypto. I'll support it. Lots of rich people are supporting Bitcoin, but if people [working in factories] want me to support Dogecoin, I will. Dogecoin is for you.” Musk told the audience.
Musk also hinted at the possibility of allowing users to buy Tesla cars with DOGE, noting that “I think we should enable that” payment option.
DOGE traded at $0.098 at the time of writing after losing over 3.5% in the last 24 hours, CoinMarketCap data shows.
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