FACT CHECK: Did Tesla Announce A New Electronic Currency?

Elias Atienza | Senior Reporter

A video shared on Facebook claims Tesla announced a new electronic currency.

Verdict: False

There is no evidence to suggest that Tesla made such an announcement. The company previously stated that the only digital currency it accepts is Dogecoin.

Fact Check: 

A judge ordered an October start date for a trial between Twitter and Tesla CEO Elon Musk after the billionaire announced he was terminating his $44 billion acquisition deal of the company, according to CNN. The billionaire claimed the social media company would not provide information regarding bot and spam accounts, Variety reported.

A video shared on Facebook now claims Musk is pivoting to digital currency. It shows a photo of Musk and the Tesla logo along with various financial figures. “Tesla has invented a new electronic currency,” reads the post’s caption. “Tesla launches its newest invest platform. From today you can buy the new official Tesla e-money.” The post appears to suggest that a £200 investment in the currency could grow to be worth £7,740 in four weeks.

There is no evidence to suggest that Tesla has created a new electronic currency. No such announcement appears on Tesla’s blog website or on Musk’s Twitter account. There are likewise no credible news reports suggesting the company is planning to or has instituted a new virtual currency for customers. (RELATED: Did Forbes Publish This Article About China’s New Cryptocurrency?)

Tesla stated in January 2022 that it would begin to accept the cryptocurrency Dogecoin as payment, according to The Guardian. Currently, Tesla’s website states, “Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets.”

Check Your Fact reached out to Tesla for comment and will update this article if a response is provided.

Elias Atienza

Senior Reporter
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