January 23, 2022

CEX.IO company blog | What are the odds that Tesla will start accepting Dogecoin as payment?

AT Twitter There were rumors that Tesla would start accepting Dogecoin for payment after the Robinhood crypto wallet was released. About, how realistic this scenario is, commented for RBC Crypto Yuri Mazur, head of data analysis department at CEX.IO Broker:

It is possible that Musk could go for suchstep and start accepting Doge as payment. In this case, most likely, the Dogecoin rate will show growth. However, it is worth noting that news of the SpaceX space mission, paid for by Dogecoin, did not add cryptocurrency positions in the medium term. The same can happen in the case of Tesla, as crypto investors today are very careful about Musk's statements.

A distinctive feature of Doge isdependence of the coin on external factors. Investors need a little more than the words of Elon Musk - they want to see infrastructure, new solutions and a developed ecosystem. In the meantime, Dogecoin boasts exclusively Twitter support from the famous billionaire.

However, we do not exclude that the developers of thiscryptocurrencies will be able to show the world innovative technologies and solutions - and only in this case the digital asset will be taken seriously by market participants.

Read the full material here.

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