Tesla Might Start Accepting Shiba Inu as Payment | Finance Magnates

Elon Musk-led Tesla (Nasdaq: TSLA), which is the top manufacturer of electric cars, might be planning to accept payments for its cars in popular meme token Shiba Inu. According to an analysis of the source code of the Tesla website, the name SHIBA was found along with Bitcoin and other regular payment methods.

First posted by a Reddit user, the name of the meme token in Tesla website source code was confirmed by many social media users on both Reddit and Twitter, including some publicly known coders.

Without any official announcement by Tesla, many are now speculating that the car company will soon start to accept Shiba as payment for its cars.

#ShibArmy, our very own @kaaldhairya has confirmed and verified the Tesla code. Here are some of his comments on the acknowledgement.. https://t.co/CMYFkOrbgO

— Shib (@Shibtoken) November 1, 2021

Elon’s Obsession for Meme Token

Tesla’s CEO Elon Musk, who happens to be the richest man in the world, is also a major proponent of cryptocurrencies, including meme tokens. He advocated for Dogecoin several times, resulting in pumping the price of the token aggressively.

Tesla even invested $1.5 billion in Bitcoin earlier this year and even started to accept Bitcoin as payment for its cars. While the company stopped taking Bitcoin for a while now, citing environmental concerns and divested some of its Bitcoin holdings, it is still holding the majority of its Bitcoin investments.

Shiba developers initially marketed the token as a Dogecoin killer. After the popularity of its rival, crypto investors became very much interested in Shiba, another meme token, pumping the price of the cryptocurrency.

Finance Magnates recently reported that an anonymous investor who invested merely $8,000 in Shiba Inu in August 2020 is now sitting on the meme token valued at $5.7 billion, which is the greatest trade known so far in any asset class.

Tesla, however, is not the only corporation interested in $SHIB. AMC Theatres, one of the major global movie theater chains, is also reportedly considering to accept Shiba Inu as payment.