Musk Says Tesla Will Accept Dogecoin for Merchandise

Tesla CEO Elon Musk said in a tweet on Friday that the car company will now accept meme-based cryptocurrency dogecoin as payment for select merchandise items.

Payments in dogecoin went live on Tesla’s website after Musk tweeted the announcement, with items such as an electric quad bike priced at 12,020 doge ($2,368), a “Giga Texas Belt Buckle” for 835 doge ($156) and a whistle for 300 doge ($57).

Dogecoin’s value rose 14 percent to $0.20 after Musk’s tweet, a month after he said Tesla would be testing out the cryptocurrency as a payment option.

Musk’s several tweets about the digital token, which started out as a social media joke, has largely helped pushed its value by about 4,000 percent in 2021.

Musk has also been an advocate for cryptocurrency, having Tesla accept bitcoin for car purchases earlier last year, only to axe plans a month after launch due to concerns about the use of fossil fuels in bitcoin mining.

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