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HomeNewsRevolution in Auto Industry: Musk Infuses Crypto into Tesla - Will DOGE...

Revolution in Auto Industry: Musk Infuses Crypto into Tesla – Will DOGE and BTC Skyrocket?

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  • Rumors are circulating that Tesla may reintroduce Bitcoin and Dogecoin as payment methods, fuelled by evidence found in the website’s source code.
  • Despite the speculation, no official confirmation from Tesla or Elon Musk has been given, leaving the crypto and automobile communities in anticipation.

Elon Musk’s Tesla Stirs Crypto Rumors

As one of the leading figures pushing for the mainstream adoption of cryptocurrencies, Elon Musk and his brainchild, Tesla, have again become the focal point of intense speculation within the crypto community. The heart of this discussion lies in the discovery that the website source code of Tesla had embedded references to Bitcoin and Dogecoin payments.

This revelation has fueled speculation that the automaker is gearing up to launch a payment feature that accepts these cryptocurrencies. It’s worth remembering that back in January 2023, Tesla’s website had introduced a crypto payments feature, but it had remained dormant and did not transpire into a functional service at the time.

Tesla and the Crypto Connection

Musk’s affinity for Dogecoin, often referenced in his tweets, is no secret. It’s also well known that Tesla’s previous foray into Bitcoin was significant. Back in 2021, Tesla announced an investment of $1.5 billion in Bitcoin, solidifying the cryptocurrency’s position in mainstream finance. However, due to environmental concerns tied to energy-intensive Bitcoin mining, the company suspended BTC payments for its vehicles later that same year.

The reemergence of Bitcoin and Dogecoin references in the source code, although dismissed by some as remnants from earlier configurations, has sparked renewed excitement. Nevertheless, it is crucial to note that these findings are not indicative of an imminent or recent change in Tesla’s stance towards crypto payments.

Anticipation Fuels Speculation

Amidst this wave of anticipation, some level of skepticism is warranted. Chinese journalist Collin Wu highlighted that while there is community chatter around Tesla adding Bitcoin and Dogecoin to its payment page source code, these elements were present as early as January 2023. Therefore, it seems the company did not erase this code even when they previously discontinued Bitcoin payments.

In Tesla’s second quarter 2023 earnings report, it was also disclosed that the company still holds its Bitcoin assets without selling any of them. This disclosure only served to intensify the anticipation of a possible crypto payment feature return.

It’s important to understand that, as of today, Tesla has not officially stated any change in their stance towards Bitcoin and Dogecoin payments. The current excitement, while substantial, is fueled by speculation and the tech giant’s historical association with the crypto world. As the BTC price sees a minor uptrend, rising to $30,291 at press time, the world watches, waiting for Tesla’s next move.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628
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