Elon Musk's latest announcement at the Tesla Gigafactory in Berlin on the 13th has sparked a surge in Dogecoin value. Musk, interacting with the public, expressed openness to accepting Dogecoin as payment for Tesla vehicles. Responding to an inquiry from the audience, Musk stated, "At some point, I think we should allow Dogecoin payments. You can already use Dogecoin to buy Tesla merchandise, which is cool, so... Dogecoin to the moon!"
Musk further explained his support for Dogecoin, citing requests from employees at Tesla and SpaceX factories. He emphasized, "Dogecoin is the people's cryptocurrency, and I support it. Many wealthy people support Bitcoin, but if the people on the production line want me to support Dogecoin, I will."
Following Musk's endorsement, Dogecoin's value experienced a significant surge, rising from approximately $0.166 earlier in the day to $0.19289 within two hours, marking a gain of over 15%. Presently, it is trading at $0.18608, reflecting a 7% increase in the past 24 hours.
Tesla's potential acceptance of Dogecoin aligns with previous announcements. In 2022, Musk disclosed plans for a Tesla Supercharger station in Los Angeles, set to accept Dogecoin payments. Additionally, Musk revealed during an X Space event in January that he holds a substantial amount of Dogecoin, which he hasn't sold as it remains his preferred cryptocurrency.
Despite Musk's enthusiasm for Dogecoin, Tesla and SpaceX hold a significant portion of Bitcoin. Data from Arkham, a cryptocurrency intelligence company, indicates Tesla owns about 11,510 BTC in 68 addresses, while SpaceX holds approximately 8,290 BTC in 28 addresses, totaling 19,800 BTC valued at around $1.44 billion at current prices.
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