Tesla CEO Elon Musk Wants To Bring Back Dogecoin As A Payment Option To Buy Company's Merchandise

Anan Ashraf

August 31, 2024

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk said on Friday that he would like to have the option of paying with meme cryptocurrency Dogecoin (CRYPTO: DOGE) reinstated for the company’s merchandise.

What Happened: “Me,” Musk wrote in reply to an X user who asked whether anyone would like Tesla to reinstate the option of paying with Dogecoin for its merchandise.

Me
— Elon Musk (@elonmusk) August 30, 2024

Tesla has an online shop with company merchandise. Though it currently only allows payment in dollars, it previously allowed users to make payments with Dogecoin. Earlier this year, Musk even suggested in an address during his visit to Giga Berlin that the company would accept Dogecoin as an official form of payment for its cars at some point.

The EV giant’s website even has a support page for clearing doubts about paying with Dogecoin for its products.

“Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets. Ensure you are making your purchase with Dogecoin. Sending any other digital assets may result in the assets being lost or destroyed,” the page reads.

Why It Matters: Earlier this week, Musk and Tesla secured the dismissal of a federal lawsuit accusing them of defrauding investors through insider trading and market manipulation of Dogecoin.

The decision was delivered on Thursday night by U.S. District Judge Alvin Hellerstein. Investors had accused Musk of exploiting Twitter (now X) posts and other publicity stunts to trade profitably at their expense through several Dogecoin wallets controlled by him or Tesla.

Judge Hellerstein, however, stated that no reasonable investor could rely on social media posts to pursue a securities fraud claim. The lawsuit was subsequently dismissed with prejudice, preventing it from being filed again.

Over the years, Dogecoin’s price movement has become increasingly linked to social posts and endorsements by Musk, as well as developments around companies owned by him.

Earlier this month, Musk posted an AI-generated image referencing the cryptocurrency through his X account, which caused it to spike.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next:

Tesla Considers Warner Bros Studio For Highly Anticipated Robotaxi Unveiling Event: Report

Photo courtesy: Shutterstock

Recommended

Oil = Monthly Income - Ad

My TOP Altcoin for Right Now Is... - Ad

Why We Just Sold Half of Our Stocks - Ad

Elon Musk's rocket manufacturing company SpaceX has launched its 90th launch mission for the year, the company said on Tuesday.

Intuitive Machines, Netflix, Li Auto, Trump Media & Technology, Tesla: Why These 5 Stocks Are On Investors' Radars Today

The U.S. stock market had a mixed close on Tuesday. The Dow Jones slipped slightly by 0.4%, finishing at 41,606.18.

This $2 Stock Outshines Historic Gold Rally!

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Anthony Scaramucci Calls For Bipartisan Crypto Regulation, 'Applauds' Donald Trump For Coming Towards The Industry

Scaramucci urges bipartisan regulation of cryptocurrency in the U.S., noting Trump's shift towards a positive view and Harris's team's careful consideration. With a growing consensus, upcoming event will discuss the evolving regulatory landscape.

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'

A famous election forecaster has made their final prediction on who will win the 2024 presidential election.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Canadian Union Unifor Reaches Agreement With General Motors For Over 1,300 Workers In Ontario

Unifor has reached a tentative collective agreement with General Motors for the more than 1,300 of its members at the company's CAMI Assembly and Battery Assembly facilities in Ingersoll, Ontario, the Canadian labor union said on Wednesday.

UK inflation is steady at 2.2% ahead of Bank of England's next rate decision

LONDON (AP) — Inflation in the U.K. held steady at an annual rate of 2.2% in August, with higher air fares offset by lower fuel costs and restaurant and hotel bills, official figures showed Wednesday.

U.S. Loses to China in Shocking WAR GAMES

U.S. Loses to China in Shocking WAR GAMES - Ad

Pentagon says new "living missile" key to winning a future conflict. Investors stand to reap 35,960% on shares of the small defense contractor that makes powerful new weapon.

NBA Legend Shaq Shows Off His New Widebody Carbon Fiber Tesla Cybertruck: Elon Musk Has A One Word Reaction

NBA legend Shaquille O'Neal, also known as Shaq, showed off his new Tesla Cybertruck featuring a widebody carbon fiber design, which is the first of its kind in the world.

Top 2 Energy Stocks That Are Ticking Portfolio Bombs

Two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

A 10,000% Dividend?!?

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Palantir And Dell Are Set To Join S&P 500 Index: Here's What Peter Thiel And Michael Dell Have Said About Bitcoin

In a major development, tech behemoths Palantir Technologies Inc. (NYSE:PLTR) and Dell Technologies Inc. (NYSE:DELL) are all set to join the blue-chip S&P 500 index.

Alibaba Boosts US Expansion With New AI Sourcing Tool Despite Festering Tensions Between Beijing And Washington: 'Tariffs Added Cost For Both Sides'

Alibaba is expanding its U.S. presence with the launch of an AI-powered sourcing tool aimed at simplifying the supplier search process for American buyers.

What If Kamala Wins? The 3 Words That Will Change Everything

What If Kamala Wins? The 3 Words That Will Change Everything - Ad

The same team that predicted Biden's downfall ... now warns of a new threat. Learn how to safeguard your future.

Mohamed El-Erian Says While Most Assets Recovered After A 'Shaky Start' In August, Bitcoin Was Among The Exceptions

Mohamed El-Erian, Chief Economic Advisor at Allianz, noted Bitcoin's (CRYPTO: BTC) underperformance in August vis-à-vis other major asset classes.

Three Warning Signals From The Economy Going Into 2025

Labor, inflation and Buffett: Cracks in the system have been appearing in recent months.

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just released this shocking new video exposing Democrats' secret plan to keep Trump out of the White House... Even if he wins the election. See the details and learn how to prepare... Because this could trigger the biggest constitutional crisis in our nation's history.

US-sanctioned Serbia official meets Putin, says Belgrade is an ally and won't join Western penalties

Serbia is a Russian ally and will never impose sanctions against Moscow or join NATO, the Balkan nation’s deputy prime minister said Wednesday as he met with Russian President Vladimir Putin.

Yemen's Houthi rebel video shows they planted bombs on tanker now threatening Red Sea oil spill

DUBAI, United Arab Emirates (AP) — Yemen's Houthi rebels released footage Thursday showing that they boarded and intentionally set explosives aboard a Greek-flagged tanker that had been abandoned after they repeatedly attacked it, putting the Red Sea at risk of a major oil spill.

Do Not Day Trade (Do This Instead)

Do Not Day Trade (Do This Instead) - Ad

Forget day trading (especially in markets like these). Trade OVERNIGHT instead! I've uncovered a shocking way to take 100% certain events (mandated by the U.S. Government)...And target OVERNIGHT payouts like: 253%... 327%... Even 383%! Enough to potentially hand you profits of $25,300... $32,700... heck even $38,300!

Betting On U.S. Elections? Federal Judge's Decision Greenlights Political Wagers

A federal judge has greenlighted Kalshi to offer U.S. election betting, overturning a 2023 CFTC block, with contracts launching next week.

Trump Vs Harris: Who Do Russia, Iran And China Favor In 2024 Election? Intelligence Officials Weigh In

U.S. intelligence officials believe that Russia, Iran and China have preferred candidates in this year's U.S. presidential election. Each of these foreign powers has different views on who would best serve their interests.

2024 Oil Boom

2024 Oil Boom - Ad

There is a much better way to profit from oil in 2024. It's NOT oil stocks, futures, or anything you've likely heard about. In fact, one man used it build a small $1,000 investment into a $100,000 income stream over fifty years.

Pop Icons ABBA Challenge Donald Trump's Campaign Over Music Rights

Swedish pop group ABBA has requested that Donald Trump to stop playing their music at his campaign rallies, despite Trump's team claiming they have the necessary permission.

White House signaling it will likely stop Nippon Steel's plans to buy US Steel

WASHINGTON (AP) — The White House is signaling an openness to blocking the acquisition of , as a government review of the proposed takeover by the Japanese company is on the cusp of ending.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Best Buy's Growth Will Be Driven By AI And Margin Expansion Despite Mixed Sector Challenges: Analysts

Best Buy beats expectations in Q2 with EPS of $1.34 and sales of $9.29B. Analysts raise price targets and EPS estimate for 2025.

Cannabis Retailer Tokyo Smoke To Close 29 Stores In Canada As It Seeks Creditor Protection

Tokyo Smoke, a Canadian cannabis retailer previously owned by Canopy Growth, is shutting down 29 stores and restructuring under CCAA protection.

Don't Tell ANYONE About This Altcoin (Until It Pops)...

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Elon Musk And Trump's Federal Efficiency Plans Slammed By Paul Krugman, Economist Warns About Risks To Medicare, Social Security: 'Government Is An Insurance Company With An Army'

Nobel laureate Paul Krugman has expressed concerns over Republican presidential candidate Donald Trump and Tesla Inc CEO Elon Musk's proposed federal spending cuts. Krugman shared his thoughts on X on Thursday, ahead of the 2024 presidential election.

Judge Rejects Trump's Attempt To Move Hush Money Trial To Federal Court, Citing Lack Of 'Good Cause'

A federal judge has dismissed Donald Trump's request to transfer his hush money case to federal court.

America's Slow Decline into Hell

America's Slow Decline into Hell - Ad

As Kamala Harris rises to power, her 3-word agenda threatens every American's freedom and financial security. Get the inside scoop and

Elon Musk-Backed California AI Safety Bill SB 1047 Has 57% Chance Of Being Signed By Gavin Newsom, Polymarket Shows

Prediction market Polymarket shows 57% chance of California passing AI safety bill SB 1047, sparking debate among tech leaders and upcoming discussion at Benzinga event.

Australia proposes legal minimum age for children accessing social media

MELBOURNE, Australia (AP) — The Australian government on Tuesday promised to legislate this year to enforce a minimum age for children to access social media, but it has yet to announce how ages will be verified.

Could You Retire on a Single AI Stock (Trading for Only $15)?

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

Imagine what the perfect AI stock would look like...forefront of AI trend...virtual monopoly in its market... exempt from federal taxes. As you're about to see, this perfect AI stock does exist, and is currently trading for only $15. With just one investment, you could potentially set yourself up for massive financial gains.

Stalled In Bureaucratic Limbo, This German City Struggles With Illegal Cannabis As Demand Surges

The slow response is largely due to complex bureaucratic requirements. Applicants must provide extensive documentation.

Ford joins growing list of companies changing diversity policies after conservative pressure

DEARBORN, Mich. (AP) — Ford Motor Co. has joined the ranks of companies that have pulled back on diversity, equity and inclusion policies while facing pressure from conservative groups.

Man Who Predicted Trump Win Issues Shocking New Election Prediction

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Hewlett Packard won't drop its UK claim against tech mogul Mike Lynch, who died when his yacht sank

LONDON (AP) — Hewlett Packard Enterprise said Monday it won't drop its U.K. claim for damages against the estate of British , who was killed when his superyacht sank last month.

Trending Now