US Public Company Allows Tesla Dealers to Accept Dogecoin

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BOTS, a company listed on the US OTC market, has recently announced it is ready to provide processing services in Dogecoin (DOGE) to dealers and owners of used Tesla electric cars.

BOTS focuses on infrastructure solutions for DeFi, cybersecurity and insurance, consulting, deployment and repair of mining equipment. The company wants to enter into partnerships with other car manufacturers and their dealers.

According to a forecast made by Allied Market Research, the global used car market will grow from $828.2 billion to $1.36 trillion between 2020 and 2027, showing a CAGR of 8.3%.

According to iSeeCars.com, the Tesla Model 3 is on average priced at a premium of $1,300, or 2.9%, relative to a new EV. This is due to a shortage of chips, which has increased the waiting time for machine delivery from seven to eleven weeks.

Tesla stopped accepting Bitcoin as a means of payment due to concerns about the environmental impact of mining the crypto.

Elon Musk has previously suggested users might be able to accept payments in Dogecoin in the future. In July, the Tesla founder allowed the return of Bitcoin payment options.