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Tesla accepts Dogecoin as payment for its mechandise, says Elon Musk

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By Tekato Longkumer Updated: Jan 14, 2022 9:51 pm
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A Tesla logo
Photo: Tesla.

Dimapur, Jan. 14 (EMN): Users can now buy select Tesla merchandise items with popular meme-cryptocurrency Dogecoin, according to the official Tesla website and a tweet from Tesla CEO Elon Musk.

Tech billionaire Elon Musk took to Twitter to announce that Tesla customers can now pay with dogecoin for some of its merchandise.

“Tesla merch buyable with Dogecoin,” Musk said in a tweet.

Some of the Tesla merchandise that can be bought with doge include a Cyberwhistle, a Giga Texas Belt Buckle and a Cyberquad for kids.

Musk is one of the biggest supporters of crypto payments. During the B-word conference in 2020, Musk confirmed that he held bitcoin and dogecoin, among others.

“If the price of bitcoin goes down, I lose money. I might pump, but I don’t dump. I definitely do not believe in getting the price high and selling or anything like that,” Musk said. “I would like to see bitcoin succeed.”

In December, Musk hinted that Tesla would “make some merch buyable with Doge & see how it goes.” Following the news of Tesla’s adoption of doge, the meme token’s value has skyrocketed by 30%. At the time of writing this article, dogecoin was trading at INR 14.27.

In addition to dogecoin, Tesla might also start accepting bitcoin for car purchases. Last year, Tesla had began accepting bitcoin for car purchases but Musk halted the support citing environmental concerns about bitcoin’s mining process.

“I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 per cent, and that there is a trend toward increasing that number, and if so Tesla would resume accepting bitcoin,” Musk said.

“Most likely the answer is that Tesla would resume accepting bitcoin,” he added.

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By Tekato Longkumer Updated: Jan 14, 2022 9:51:19 pm