Tesla to accept Dogecoin as payment at Supercharging station

Tesla CEO Elon Musk has announced that the company's supercharging station will accept cryptocurrency Dogecoin as payment.

Santa Monica Supercharger will officially accept Dogecoin as payment, making it the first Supercharger in Tesla's network to accept the crypto as a payment method.

"Of course, you can pay in Doge (sic)," said Musk in response to a tweet by Ryan Zohoury, the founder of Tesla Console who said that only ten minutes after the new Santa Monica Superchargers was opened they were already full.

Musk, a vocal proponent of both Doge and Bitcoin, has long hinted toward bringing Doge as a payment method to various parts of Tesla's business. The company does accept Doge in its online store and there have been rumours of Tesla eventually accepting the crypto as a form of payment for its vehicles.

In a recent interview, Musk had also endorsed Dogecoin over any other crypto coin.

"The transaction value of Bitcoin is low and the cost per transaction is high. At least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency," he said.

Musk also confirmed that he has a significant personal investment into bitcoin on top of Tesla's investment and he has smaller Ethereum and Dogecoin holdings.

(With inputs from IANS)

Published on: Sunday, February 20, 2022, 04:07 PM IST