Fintechs.fi

Fintech & Crypto News

Is Tesla About To Activate Dogecoin (DOGE) Payments On Their Website?

Tesla, the leading electric vehicle manufacturer, is working on adding previously teased Dogecoin (DOGE) payment option on its website, according to a software engineer.

Three days ago, the DOGE payment option was added for testing, a software engineer who goes by “Tree of Alpha” shared on Twitter. The engineer analyzed Tesla’s source code in the backend and said that the company is “definitely” testing that option.

According to Tree of Alpha’s recent tweet, Tesla has since activated DOGE payments backend. However, when the feature will be fully activated and what can you buy with it, remains unknown for now.

In November, Tree of Alpha discovered that Tesla was testing payments for a coin called “SHIBA (SBA),” and that coin ended up being not SHIBA INU (SHIB) but DOGE.

The latest news comes one month after Tesla Elon Musk tweeted that Tesla will accept DOGE payments for merchandise and “see how it goes.”

Musk has been a longtime supporter of DOGE. He has also invested in Dogecoin, along with Bitcoin and Ethereum.

In March last year, Tesla started supporting bitcoin for car payments. But soon after, in May, it stopped accepting Bitcoin for vehicle purchases due to concerns over the environmental impact.

Tesla statement said at the time:

“We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

Tesla still currently holds Bitcoin on its balance sheet, worth over $2 billion at current prices, according to CoinGecko.

Leave a Reply

Your email address will not be published. Required fields are marked *