Tesla Accepts Dogecoin as Brands Eat Memes

The story is a bit amusing.

Elon Musk is leveling up his ability to manipulate the price of crypto tokens. The price of the alt meme coin dogecoin has been rising recently.

The price of dogecoin jumped more than 15% on Friday before paring gains after Tesla began accepting the cryptocurrency as payment for merchandise. Various Billionaires seem to be sponsoring certain aspects of Web 3.0 as their pet project. For Block it’s definitely Bitcoin, but for Tesla Dogecoin is the star.

In ancient history Assyrian towns would have a sponsor God for each town. In 2022, each cryptocurrency has a sponsor Tycoon. Not so much ahs changed if you can see how Bitcoin has become a religion. three thousand years later and we still like to mix ideology with economies of scale.

A month after revealing that Tesla would soon start accepting meme crypto Dogecoin as payment for some of the company’s merchandise, Musk announced via his Twitter on January 14th that Dogecoin payments are live on the electric vehicle company’s website.

We don’t know what to think of some of the propaganda masquerading as Web 3.0. Whatever works for you Elon. Sadly only a small number of items, including a belt buckle and a whistle, were buyable with the cryptocurrency, which originally started life as a joke coin.

Dogecoin has the face of a dog on its coin as its mascot. In a world soon to be flooded with various stable coins and digital dollars of central banks, you have to wonder what cryptocurrencies will finally come to.

There are a number of conditions that come with paying with dogecoin, including no refunds or cancellations. You don’t say? It’s a dog eat dog world I guess so far as Tesla is concerned.

Dogecoin rose to $0.20 after Musk’s tweet early on Friday, and has soared by 5,859% over the past 12 months, according to data from the Coinbase website. That’s about as much as Bitcoin has soared in the past five years.

For some the Metaverse is our human future and to others Bitcoin is a religion. We all believe what we must I guess at the end of the day. Plans to accept dogecoin as payment have been in the works for a while. Whales like Musk or other Tycoon Billionaires typically have the ability and fame to manipulate the price of assets they have a lot of to fund their other pet projects.

Musk, who frequently writes about cryptocurrencies on Twitter and has previously described dogecoin as “the people’s crypto” is the biggest influencer of Twitter. His Tweets aren’t always factual on the development of Tesla or SpaceX’s products or timelines. But Twitter rules might do not apply to the famous and fortunate it would seem.