Dogecoin, a meme cryptocurrency, was never purchased by Tesla for its financial records (balance sheet). However, the business started taking DOGE in January for select goods. Musk has previously stated that dogecoin is better suited for payments while he views bitcoin as a store of value.
Tesla stated: “We may increase or decrease our holdings of digital assets at any time based on the needs of the business and on our view of market and environmental conditions” in a filing with the U.S. Securities and Exchange Commission (SEC) in February. We have faith in the long-term potential of digital assets as an investment and as a convenient cash substitute.
(Image credit: <a href=”https://www.vecteezy.com/free-photos”>Free Stock photos by Vecteezy</a>)
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