Tesla’s CEO Elon Musk has hinted in the past the possibility of the electric car maker accepting Dogecoin payments. Despite his poll garnering massive yes votes, Tesla is yet to accept any other cryptocurrency after dropping Bitcoin.
All hope is not lost though for Tesla customers wishing to make crypto payments. Global technology company Bots Inc. launched a feature that would allow customers to pay for Tesla cars using meme cryptocurrency Dogecoin. The catch for this feature, however, is that it will only be available to local car dealerships selling used Tesla cars.
Dogecoin Payments Will Be a Convenience for Used Tesla Cars Market
Bots Inc. deals in Blockchain-based solutions ranging in cybersecurity, consulting, financial industry, crypto mining, mining equipment repair, and the insurance industry. Bots Inc. specialized in developing decentralized finance applications for a variety of industries.
Bots Inc.’s Dogecoin payments pioneered as a form of payments accepted among publicly traded companies. It is, therefore, expected that it is now choosing the same meme cryptocurrency Dogecoin as a payment option for second-hand Tesla cars.
Observer.com recently issued a report on the global shortage of microchips that have hit the industry. The result has been a reduction in the production of new cars, and a subsequent price surge of used cars.
Some popular car brands are fetching more on the second-hand market than their brand-new counterparts. For instance, a slightly used Tesla Model 3 Sedan is $1,300 on average, or 2.9 percent more than a brand-new one that currently retails between $35,690 to $52,690.
Additionally, the seven to eleven-week wait that buyers of brand new Tesla cars have to wait has increased the desirability of used cars. Considering these factors, Bots Inc.’s Dogecoin payments for the used Tesla cars is, therefore, a very convenient feature for buyers.
Bots Inc.’s Launch Could Be another Boost for Dogecoin
Meme cryptocurrency Dogecoin is slowly recovering from a major price drop in the second quarter. A recent tweet from billionaire Mark Cuban terming Tesla as the strongest cryptocurrency in terms of payment contributed to its rise. The joke crypto rose to $0.35, which was its highest level since June.