Elon Musk says Tesla now accepting Dogecoin for some items

The price of Dogecoin surged Friday after Tesla began accepting the crypto meme token in sales of merchandise and other products.

Tesla CEO Elon Musk, a noted fan of Dogecoin, revealed the decision on his Twitter account.

“Tesla merch buyable with Dogecoin,” Musk wrote.

Elon Musk, an avowed fan of the cryptocurrency, announced in a tweet that Tesla will now accept Dodgecoin for certain products.
REUTERS

Dogecoin’s price jumped more than 11 percent to $0.19 cents per token as of Friday morning, according to CoinBase.

A review of Tesla’s website showed many producers can already be purchased using Dogecoin. While it is currently out of stock, the company’s “Cyberquad for Kids” costs 12,020 doge, or about $2,300, including shipping and taxes.

Tesla’s Giga Texas belt buckle costs 835 doge, or about $158 while the Cybertruck-inspired Cyberwhistle is selling for 300 doge, or roughly $57.

Musk first unveiled plans to accept Dogecoin in December. At the time, the billionaire told his Twitter followers that Tesla would “make some merch buyable with Doge & see how it goes.”

Musk has repeatedly touted Dogecoin in recent months, once referring to himself as “The Dogefather” and infamously referencing the meme token during his appearance on “Saturday Night Live” last year.

Last February, Tesla purchased $1.5 billion worth of bitcoin in an effort to “diversify and maximize returns” on its cash. A month later, Musk announced that Tesla would accept bitcoin for vehicle purchases.

Dodgecoin
Items available for purchase with Dogecoin include Tesla’s “Cybersquad for kids.” The cryptocurrency jumped 11 percent after the announcement.
REUTERS

But Musk later reversed course on that decision, tweeting that Tesla would no longer accept bitcoin because of concerns related to the environmental impact of digital mining, which requires a massive amount of electricity.