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

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now - Ad

This $2 Stock Outshines Historic Gold Rally! - Ad

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

President Trump and Elon Musk Issue Stark Warning

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

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.

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.

Investigators say dispatching errors led to Union Pacific train crash that killed 2 workers

OMAHA, Neb. (AP) — Dispatching errors combined with the failure of two backup systems allowed a Union Pacific train to that had been parked on a side track for nine months in Southern California two years ago, killing an engineer and a conductor, according to a report issued Thursday.

UK says it's suspending some arms exports to Israel over the risk of breaking international law

LONDON (AP) — U.K. Prime Minister Keir Starmer's government said Monday that it's suspending exports of some weapons to Israel because they could be used to break international law — a move with limited military impact intended to increase pressure by Israel's frustrated allies for an end to .

America Can't Afford a Harris Presidency

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Donald Trump's Billions On Hold As Insiders Sell Off Truth Social Shares

Insiders at Trump Media & Technology Group owned social media platform Truth Social have started offloading their shares.

Major power outage hits Venezuela's capital, with Maduro government blaming 'sabotage'

CARACAS, Venezuela (AP) — Venezuelans awoke Friday to a major power outage in the capital, Caracas, and several states.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now)

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

Wall Street Eyes Strong Finish To The Week Despite Futures Suggesting Moderation In Tech Buying: Strategist Cautions Against Factoring Rapid, Steep Cuts Ahead Of Next Week's Fed Meeting

Now that the twin inflation reports are in the rearview mirror, U.S. stocks are hanging onto the slender optimism as traders look ahead to the Federal Reserve’s rate-setting meeting.

Judge allows smoking to continue in Atlantic City casinos, dealing blow to workers

ATLANTIC CITY, N.J. (AP) — A judge on Friday allowed smoking to continue in Atlantic City’s casinos, giving some measure of relief to the city's struggling casino industry while rebuffing workers who have long sought to be able to breathe clean air on the casino floor.

My TOP Altcoin for Right Now Is...

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

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Apple Reportedly Plans To Switch To OLED For All iPhones Starting 2025, Not Just The Top-Tier Flagships

Apple plans to transition all iPhone models, including the lower-priced iPhone SE, to OLED displays by 2025, phasing out LCDs and excluding Japanese suppliers like Japan Display and Sharp from its handset business.

Young girls are using anti-aging products they see on social media. The harm is more than skin deep

SACRAMENTO, Calif. (AP) — When she was in fifth grade, Scarlett Goddard Strahan started to worry about getting wrinkles.

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Former Deputy Claims Harris Helped Close Backpage, Fallout Affects Sex Workers

In the midst of the 2024 presidential campaign, Kamala Harris finds herself under the microscope for her involvement in the closure of Backpage.com, a well-known online platform for adult services, during her time as the Attorney General of California.

The iPhone 16, new AirPods and other highlights from Apple's product showcase

CUPERTINO, Calif. (AP) — Apple squarely shifted its focus toward artificial intelligence with the unveiling of its hotly anticipated iPhone 16 along with a slew of new features coming with the next update to the device’s operating system. While the new phone lineup headlined Monday's showcase, the tech giant also shared updates to its smartwatch and AirPod lineups.

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.

Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain's sale

NEW YORK (AP) — After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection.

Nvidia Set To Reach $10 Trillion Valuation As Blackwell Expected To Propel Chip Maker With 'Fireworks Again' In 2025, Analyst Predicts

NVIDIA Corp is projected to surge to a $10 trillion valuation, according to Beth Kindig, lead tech analyst at I/O Fund. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell.

Revealing Index Soars 49% - Smart Investors Are Moving In

Revealing Index Soars 49% - Smart Investors Are Moving In - Ad

The Gold Miners' Index is up 49% in recent months, surpassing even Gold's performance. Yet, ONE stand-out miner has even doubled Gold's historic rally over the last 6 months with room to run as analysts expect it to double from here! Don't miss the young company that has already captured the interest of 40+ investment banks.

GameStop Shares Are Trading Higher: This Week In Review

GameStop Corporation (NYSE: GME) shares are up Friday. Here's what you need to know.

Japan Leads Asia Markets Decline, Europe Slides; Crude Oil Falls below $70 - Global Markets Today While US Slept

US stocks close lower on weak manufacturing data and Fed rate cut uncertainty. Asian markets follow with major declines. Commodities and futures down.

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double - Ad

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

Another New Jersey offshore wind project runs into turbulence as Leading Light seeks pause

Another offshore wind project in New Jersey is encountering turbulence.

Stellantis recalls 1.5M Ram trucks to fix software bug that can disable stability control

DETROIT (AP) — Stellantis is recalling nearly 1.5 million Ram pickup trucks worldwide to fix a software problem that can disable the electronic stability control system.

DO NOT Make Another Trade Without Seeing This First

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

US Steel CEO David Burritt Blasted By United Steelworkers President After $15B Deal With Nippon Steel Comes Under Biden Administration Scrutiny: 'Get A Decent CEO'

David McCall, President of United Steelworkers met Nippon Steel's Executive Vice President Takahiro Mori this summer to describe the union's demands, particularly ensuring that the Japanese steelmaker's parent sign the deal

Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: 'Even Her Tweets Are Not Her Own'

Recent comments by prominent figures have sparked debate over Vice President Kamala Harris's social media activity and public engagement. Bill Ackman, CEO of Pershing Square Capital Management, raised questions about Harris's involvement in her own X posts during the recent Republican primary debate.

The No. 1 AI Stock of 2024 (Not Nvidia)

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Behind the nonprofit helping a diverse new generation of culinary professionals heat up New York

NEW YORK (AP) — A side of beef bigger than a classroom desktop sat before high school students huddled around a kitchen on New York's Lower East Side. “Anyone wanna jump in?” asked the butcher teaching the Tuesday afternoon class. One student dared, grabbing a sawblade about as long as his arm and sweating to successfully separate the short rib from the rib eye.

Average long-term US mortgage rates holds at 6.35% this week ahead of expected Fed rate cut

The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this month.

Silicon Valley Billionaires Are Quietly Buying Into What We Call the "Imperium" Boom

Silicon Valley Billionaires Are Quietly Buying Into What We Call the "Imperium" Boom - Ad

See why Bill Gates, Mark Zuckerberg and Peter Thiel are making huge bets on this breakthrough now.

It's not just Harris and Trump who have a lot at stake in next week's debate. ABC News does, too

NEW YORK (AP) — Hours after ABC News released the rules for next Tuesday's resolving a final dispute in Donald Trump's favor, the former president was on the attack — against ABC News.

US economic growth for last quarter is revised up to a solid 3% annual rate

WASHINGTON (AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.

Why Are These Strange "Accidents" Happening All Over America?

Why Are These Strange "Accidents" Happening All Over America? - Ad

Across America, strange "accidents" are happening in greater numbers than ever before. Jets are falling apart, chemicals are spilling, construction workers are being electrocuted -- and no one knows why. In his new exposé, American financial analyst Dan Ferris reveals the silent force behind this trend... why it's destroying this country from the inside... and where all signs suggest it's about to strike next: the U.S. stock market.

Ocean Power Technologies Stock Climbs On Q1 Results: Details

Ocean Power Technologies reported its first-quarter financial results after Monday's closing bell. Here's a look at the details from the report.

Trending Now