If this is the top, it’s going to be the most obvious top in hindsight.
Elon Musk, the CEO of electric carmaker Tesla, put out yet another Dogecoin (DOGE) tweet. It’s not all nonsense this time, however, as he is asking if customers want to pay for Tesla cars with DOGE.
“Do you want Tesla to accept Doge?,” he asked in the tweet, with it racking up nearly 815,555 votes within 30 minutes. 77% of all poll-takers—nearly 627550 Twitter accounts—voted “yes.”
Dogecoin moved up 10% minutes after Musk’s tweet, with buyers and traders likely reacting to the possibility of Tesla actually accepting DOGE for its cars. The memecoin is now up by 20% in the past week and a staggering 21699.7% in the past year.
The tweet comes close on the heels of SpaceX, the space exploration company owned by Musk, taking Dogecoin payments for a space-bound payload mission earlier this week.
The mission was contracted out by one Geometric Energy Corporation, which said DOGE would be the “unit of account for all lunar business between SpaceX and Geometric Energy Corporation and sets precedent for future missions to the Moon and Mars.”
As such, Tesla became the first car company in the world to accept Bitcoin for its electric cars earlier this year. The company is using only internal and open source software and that it would operate its own Bitcoin nodes directly.
As such, all the BTC paid by users to Tesla would be retained as Bitcoin, not converted to fiat currency as in other fiat-to-Bitcoin product purchases.
This means unlike most other purchases of real-world assets like real estate, watches, or yachts, Tesla will continue to hold the Bitcoin they receive on their books, instead of accepting BTC and cashing out to dollars (or other fiat currencies instantly). And now, the company might just become a Dogecoin holder.