Earlier this week on Tuesday, February 9, the Daytona Nissan dealership in Florida, USA announced that it has started accepting Dogecoin payments against its car sales.
The announcement came just at a time when Dogecoin (DOGE) skyrocketed to its all-time high of $0.84 after multiple tweets from Elon Musk. Kendall Garrison, Daytona Nissan’s said that it one of his IT employees who had suggested a Dogecoin promotion.
Until then, he knew very little about the cryptocurrency he admits. Garrison said:
“I mispronounced it several times and was promptly corrected. The response was overwhelming. My internet traffic was up almost 6,000%. It got shared on Facebook over a thousand times in the first half hour”.
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However, the dealership has smartly limited its exposure to accepting only $5000 in DOGE. “We created a cryptowallet and that’s what we used to accept the Dogecoin payment in. This turned out to be a really, really good advantage and really good exposure for us”.
Customers have already turned-in opting this offer. Ricardo Santiago bought his Nissan Sentra by paying in Dogecoin. “I’ll buy a car if I have to, to support the cause because I love Doge and I love somebody who will adapt cryptocurrency,” Santiago said.
Bitcoin Analyst Warns About DOGE Investment
The Shiba Emu-based meme cryptocurrency Dogecoin has taken the Satoshi streets with storm registering a massive 41% over the last week. The DOGE price shot to its all-time high above $0.80 earlier this week after unprecedented support from the world’s richest man and Tesla CEO Elon Musk. Musk referred to DEOGE as the “future currency of the earth”.
Several popular personalities like Snoop Dog and Gene Simmons also extended support. However, popular Bitcoin investor and venture capitalist called Dogecoin as a “vehicle of speculation”. Speaking to CNBC, Carter said:
“Unfortunately a lot of retail punters are going to lose money on dogecoin in the long term because there’s really not much there in terms of interesting technology. The only thing it can really do is be zombified and stick around and be an empty shell for people’s expectations and for their entertainment.”