- Elon Musk hints at Dogecoin relaunch at Tesla
- The proposal comes after the tech billionaire and his company won a class-action lawsuit.
- The lawsuit accuses them of manipulating the price of DOGE.
Tesla co-founder and CEO Elon Musk has hinted at the possibility of Dogecoin (DOGE) returning as a payment option for the automaker’s products.
The electric car maker began accepting DOGE payments for some of its products on its website in January 2022. However, the payment option mysteriously disappeared from the website after some investors accused Musk and his company of manipulating cryptocurrency prices.
The lawsuit seeks about $258 billion in damages, but U.S. District Judge Alvin Hellerstein dismissed the lawsuit on August 29, stating that Musk’s comments about DOGE were “aspirational and blustery” rather than factual claims intended to mislead investors. The judge also dismissed the investors’ “pump and dump” claims as “baseless.”
After the groundbreaking win, Elon Musk appeared to be considering reintroducing DOGE on Tesla.
Musk Hints at DOGE Return
Two days after the lawsuit was dismissed, Elon Musk replied to X’s post with a “me” asking if Tesla “would like to reintroduce the option to accept Dogecoin for payment for their products.”
Given the tech billionaire’s public support and affection for DOGE, it’s perhaps no surprise that the cryptocurrency is back in Tesla’s sights. Before the lawsuit was dismissed, Musk touted Dogecoin as “the people’s cryptocurrency” during a speech at Giga Berlin in March.
“You know what? Dogecoin is the people’s crypto. I'll support it. Lots of rich people are supporting Bitcoin, but if people (working in factories) want me to support Dogecoin, I will. Dogecoin is for you.” Musk told the audience.
Musk also hinted at the possibility of allowing users to purchase Tesla cars with DOGE, saying, “I think we should enable that payment option.”
According to CoinMarketCap data, DOGE is trading at $0.098 at the time of writing, after falling more than 3.5% in the last 24 hours.
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