Recently, Elon Musk revealed that Tesla’s new diner and drive-in theatre will accept Dogecoin as a payment method. This news pumped the price of Dogecoin for a while, but it has come down since then. It is quite an excellent step for adoption and also gives the meme currency even more validation. Elon Musk recently started to accept it even for some goods on their website. Maybe very soon you will be able to buy a car with it as well.
Elon Musk about the new payment method
A recent tweet from Ryan Zohour showed that they were all occupied just after 10 minutes of the opening of new Tesla superchargers in the Santa Monica area. To this, Elon replied, saying that a Tesla diner and drive-in are coming to the area very soon. He further added, “And, of course, you can pay in Doge.” So, we can expect the same payment option in other places as well in the future.
It is not clear that when Elon tweeted about the payment option, it was meant for the diner only or the superchargers. Though, I think this is probably for the diner only.
This move by Tesla is well appreciated by investors and the fans of Dogecoin. But the question is, will it really help Dogecoin to go back to the new previous ATH again? The price has simply not recovered after the SNL event crash, and at present, it is 80% below its all-time high. And recently, one of the main developers of Doge also left, which could also hurt its future.
Why is Tesla opening diners?
This diner will be Tesla’s way of retaining customers in the EV space. They are currently seeing that many users do not like the long wait time at Tesla supercharges. So, having a diner at the same place will give Tesla owners a place to sit for a while and have a meal while their cars get charged. This will be a hook and add another revenue source for the company.
What are your thoughts as Elon announces that Tesla’s new diner and drive-in theatre will accept Dogecoin? And do you think that this will help in its adoption? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Warren Buffet invests $1B in bitcoin-friendly Nubank.