Electric vehicle company Tesla (TSLA) could soon accept Shiba Inu (SHIB) token on it’s payment platform.
A recently released source code reveals that SHIB could be accepted as a means of payment:
Musk, a crypto proponent, revealed he has not invested in meme token Shiba Inu, even though his tweets about the meme token have sent it soaring in the past.
In a slew of tweets, he reiterated he supports joke token dogecoin, calling it “the people’s crypto”, as do many of his employees at Tesla and SpaceX. But he said he has nothing to do with the not-for-profit Dogecoin Foundation.
He said neither he, nor his associate Jared Birchall, were on the advisory board of the foundation, which is working to promote the crypto via patents, advocacy, and trademark protection
He said he has also invested in bitcoin, and ethereum — the world’s top cryptos — a portfolio he has also spoken about in the past.
Saleha RiazMon, October 25, 2023, 5:33 AM·2 min read
Tesla (TSLA) CEO Elon Musk, a crypto proponent, revealed he has not invested in meme token Shiba Inu, even though his tweets about the meme token have sent it soaring in the past.
In a slew of tweets, he reiterated he supports joke token dogecoin, calling it “the people’s crypto”, as do many of his employees at Tesla and SpaceX. But he said he has nothing to do with the not-for-profit Dogecoin Foundation.
He said neither he, nor his associate Jared Birchall, were on the advisory board of the foundation, which is working to promote the crypto via patents, advocacy, and trademark protection
He said he has also invested in bitcoin, and ethereum — the world’s top cryptos — a portfolio he has also spoken about in the past.
Dogecoin was up 7.7% to trade at $0.27 (£0.20) on Monday morning.
Meanwhile Shiba Inu had rallied by more than 50% to hit an all-time high of $0.000044 on Sunday to become the eleventh biggest cryptocurrency in the market.
This comes months after Tesla CEO Elon Musk removed Bitcoin as a means of Payment, stating “We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter. He added that cryptocurrency is a “good idea on many levels” but its promise cannot come at a “great cost to the environment.”
Despite these environmental concerns, Tesla said in February that it had invested around $1.5 billion in Bitcoin and when it planned to accepting the digital currency as payment for vehicles. The market value of Tesla’s Bitcoin holdings as of October 31 was nearly $2.6 billion, according to securities filings.
