Elon Musk calls himself the “Doge father” but recently he has been showing more support for the “Doge killer” aka Shib coin. Is Tesla about to accept Shib as a mode of payment?
Tesla’s history with adopting crypto
Tesla has been very on the fence about its stance on adopting cryptocurrencies. In March 2020, Elon Musk was rallying for Bitcoin when Tesla announced they would accept it for payments. This made the price spike exponentially. The crypto community was extremely pumped about Elon being a strong face for Bitcoin as well.
It all tanked when he tweeted in May that they would no longer accept BTC citing environmental concerns. The price plummeted like never before in a matter of hours. This market manipulation had left the community with no trust in Musk.
Musk’s new found love
Although Musk recently split with his girlfriend of three years, Grimes, he has not been spending his days alone. He recently brought home a Shiba Inu puppy named Floki!
This may explain Musk’s new found love for Shib as there are speculations that Tesla is adopting Shib coin.
The official Tesla website now references a payment type “SHIBA ” in its source code. This movement sent the Shiba Inu community into a frenzy. While the website references “SHIBA”, the code does not trigger any scripts to run, nor is it enabled. This left the public confused but still hopeful. This could have obviously not just been a mistake leaving an open ended payment method. We suspect that they are testing out the payment channel with SHIB. Or they just wanted to see how the public would respond to it.
Tesla nor Musk has responded nor confirmed the rumours surrounding it.
A petition has even been circulating requesting Tesla to accept SHIB for payments. It currently has approximately 50,000 signatories with a goal of 75,000.
However a few prominent twitter influencers had warned the community to tread lightly until a clear confirmation. These kinds of rumours could drive the price of SHIB up but would ultimately result in a significant crash if debunked.