Tesla CEO Elon Musk on Tuesday, December 14, announced that his electric automaker would accept cryptocurrency Dogecoin for the purchase of their merchandise. Taking to Twitter, Musk, an avid supporter of cryptocurrency, said, “Tesla will make some merch buyable with Doge & see how it goes” Following the news, Dogecoin increased by 24 per cent to $0.195.
The EV maker sells merchandise such as mini models of its vehicles, apparel, belt buckle, ‘Cyberwhistle’ modelled after its much-awaited Cybertruck and quad bike ‘Cyberquad’ for children. With a following of more than 66 million, Elon Musk had asked his followers in May if they wanted Tesla to accept Dogecoin in a Twitter poll.
Earlier this year, Elon Musk had led to a fall in Bitcoin price, the largest cryptocurrency, after he had tweeted that Tesla had “suspended vehicle purchases using bitcoin,” out of concern over “rapidly increasing use of fossil fuels for Bitcoin mining.”