Tesla CEO Elon Musk polled his nearly 54 million Twitter followers last night to ask one important question: “Do you want Tesla to accept Doge?”
At around 1:15 PM EST, the poll had accumulated over 3.06 million submissions, with 77.5% of the participants voting “Yes.” Dogecoin, a cryptocurrency, has gained notoriety over the past few months due to its meteoric rise in value amid a rise in popularity. Musk has been a vocal supporter of Dogecoin and other cryptos like Bitcoin. The self-proclaimed “Dogefather,” Musk now is asking whether the crypto should be utilized to purchase Tesla products.
Do you want Tesla to accept Doge?
— Elon Musk (@elonmusk) May 11, 2021
Tesla recently started accepting Bitcoin as a form of payment for its cars in late March, but it wasn’t the automaker’s first venture with the crypto. In fact, Tesla had disclosed in its 2020 10-K filing with the SEC that it had invested $1.5 billion in Bitcoin in December. Upon the release of the Q1 2021 Earnings Call in April, Tesla had sold part of its investment and had made over $100 million in profit. Musk said that Tesla will accept Bitcoin in other regions later this year.
Dogecoin has surged over 10,000% so far this year but encountered some pullback over the weekend. Despite Musk’s appearance on Saturday Night Live, where he spoke freely about Doge in a positive tone, the coin managed to fall significantly from its .75 peak, hitting a low of 42.04 cents in the past 24 hours. Currently, Doge is up on the day and has gained around 3 cents total. Currently, it is trading at around .50 per coin.
Musk has put his money where his mouth is when it comes to Doge and its public acceptance and subsequent use to purchase consumer goods. He spoke highly about Bitcoin earlier this year, stating that he believes the crypto will eventually become widely accepted by the traditional financial people.” I do at this point think Bitcoin is a good thing, and I am a supporter of Bitcoin. I think Bitcoin is really on the verge of getting broad acceptance by conventional finance people,” Musk said.
Musk also opened the possibility of Dogecoin being used for SpaceX missions, as the DOGE-1 Mission to the Moon could come in Q1 2022.
SpaceX is going to put a literal Dogecoin on the literal moon
— Elon Musk (@elonmusk) April 1, 2021