The world’s richest man, Elon Musk, has hinted that Dogecoin (DOGE) could return as a payment method when buying Tesla merchandise. This follows his recent win in a class action lawsuit that accused him of manipulating the price of the foremost meme coin.
Musk Suggests Tesla Could Soon Begin Accepting Dogecoin Again
Musk suggested in an X (formerly Twitter) post that Tesla, the automotive company that he co-founded, could soon begin accepting Dogecoin again. Musk replied ‘Me’ to an X post by Sir Doge, a prominent member of the DOGE community, in which he asked who else wanted Tesla to bring back Dogecoin as a payment option for merchandize payments.
Musk’s affirmation that he would like Dogecoin to return as a payment option for Tesla merchandize suggests that it could happen soon enough since he is in an excellent position to make it happen. Besides, Musk had earlier stated that Dogecoin would eventually become a payment method for buying Tesla cars.
Musk’s fondness for Dogecoin also means that this is something that the world’s richest man will be actively looking to make happen. He recently reaffirmed his likeness for the foremost meme coin, stating that he has a “soft spot” for Dogecoin while suggesting that he wasn’t inclined to other crypto tokens.
Meanwhile, Musk’s recent legal victory could motivate him to make this move and return Dogecoin as a payment method for Tesla products. A federal judge cleared the world’s richest man and the automotive company of wrongdoing in a lawsuit that accused them of manipulating Dogecoin’s price.
The lawsuit could have been why Tesla initially removed Dogecoin as a payment method. With the legal battle out of the way, the company can reintroduce Dogecoin as a payment option for buying merchandise in its store. Such a move will undoubtedly be a bullish development for the foremost meme coin and could increase its price as Dogecoin gains more utility.
Musk Continues To Support DOGE
In another X post, Musk agreed with Sir Doge when he highlighted how Dogecoin fixes a problem that the world’s richest man and his companies are currently dealing with. After banning the X platform in the country, Musk revealed that the Brazilian government had also frozen Starlink’s bank accounts despite both companies operating separately.
Following this revelation, Sir Doge said, “Dogecoin fixes this,” since the meme coin is decentralized and no government can easily access anyone’s funds. In response, Musk stated that he had made a “good point.”
Musk’s support for Dogecoin is also the reason why members of the DOGE community continue to speculate that the meme coin will be added as a payment method when the social media platform launches its payment service later this year.
Featured image created with Dall.E, chart from Tradingview.com
