Billionaire Elon Musk and the CEO of Tesla Motors announced on Friday that the company has started accepting Dogecoin as one of the means of payment from customers. However, the customers cannot use Dogecoin to buy electric vehicles, but can only select merchandise on the company’s online store.
Dogecoin is accepted currency only for some products on the Tesla store including the Cuberquad for Kids, which is going for 12,020 DOGE. Besides, other items that accept DOGE are the Giga Texas Belt Buckle for 835 DOGE and the Cyberwhistle for 300 DOGE.
Sharing a tweet, Elon Musk notified, “Tesla merch buyable with Dogecoin.” However, this comes after Dogecoin co-founder Billy Markus and other Tesla followers saw the change in the online shop.
Tesla merch buyable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
According to CoinMarketCap, Dogecoin spiked by 16% to trade around $0.20.
Notably, in June 2021, Tesla was accepting Bitcoin for a brief period from customers to buy cars. However, it was soon halted after mining Bitcoin had a negative impact on the environment.
Pay by Bitcoin capability available outside US later this year
— Elon Musk (@elonmusk) March 24, 2021
Meanwhile, Musk assured cryptocurrency backers that the company would allow resume accepting Bitcoin when miners would verify transactions use more renewable energy.
Elon Musk has been a long supporter of Dogecoin, a Japanese Shiba-Inu-themed digital coin that was started as a joke in 2013.
Currently, Dogecoin is priced at around $42,993 in the US and Rs 31,80,283 in India.