Elon Musk Enables Dogecoin (DOGE) Payment for Tesla, Is DOGE Integration Imminent for X too?

Elon Musk has strongly supported DOGE for a number of years, courting again to his first tweet in regards to the token in 2019. Since then, Musk has made a number of strikes to include DOGE into his numerous enterprise ventures. Most just lately, he has enabled DOGE as a type of cost for Tesla merchandise and is securing cost licenses for his social media platform, X. These strikes sign that Musk is intent on offering DOGE funds on X, which might have a big impact on the cryptocurrency business. 

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In early Could 2024, Musk and Tesla quietly enabled DOGE funds on the Tesla web site. The brand new function got here after Musk visited the Berlin gigafactory, the place he was requested about enabling DOGE funds. “We should always allow that,” Musk responded. Tesla prospects can now ship DOGE to the Tesla pockets in trade for merchandise. Although Tesla didn’t formally announce the change, DOGE lovers have been fast to identify it and the value of DOGE rallied greater than 20% within the following days. 

Moreover, Musk and X have been buying cost licenses in U.S. states. On the time of this report, they maintain 25 licenses, and the depend is rising month-to-month. These licenses are essential for enabling peer-to-peer (P2P) funds, just like how Venmo and Money App function. Additionally, an fascinating anecdote from Musk’s biography notes that he had dreamed of providing DOGE as a type of cost on a social media platform lengthy earlier than he even acquired X. So, the cash transmitter licenses might point out that the X workforce is transferring nearer towards DOGE funds on the platform.

This concept was furthered by a retweet from Musk that had an image of the previous X.com brand subsequent to the present X.com brand with the caption “The All the pieces App.” The submit was initially tweeted by a DogeDesigner on X. The account says that they work for DOGE, doing UX/UI design. Musk commented on the retweet saying, “The circle will probably be full.” The submit at the moment has over 65 million views and 126,000 likes. 

The previous X.com was a banking and cost web site within the early 2000s that Musk based. The corporate merged with Confinity to type PayPal, the place Musk served a brief stint as CEO. Flash ahead to 2024, and Musk is hoping to finish the circle by bringing again the cost facet of the unique X.com. 

So, the indicators level towards Musk wanting to supply DOGE as a type of peer-to-peer cost on the X platform. Nonetheless, completely different regulatory hurdles might make this considerably difficult. Buying the cost licenses is a really tedious and gradual course of. Nonetheless, Musk appears decided to carry funds to the app and transfer nearer to the “all the things app” that he has envisioned for years. 

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