Musk Announces that Tesla will Accept Dogecoin for Merch: Tesla Confirms it Accepts Only DOGE
DailyCoin
Published Jan 14, 2022 07:59AM ET
Musk Announces that Tesla will Accept Dogecoin for Merch: Tesla Confirms it Accepts Only DOGE
The founder and CEO of Tesla (NASDAQ:TSLA) took to Twitter (NYSE:TWTR) to announce that customers can now buy select merchandise items using Dogecoin (DOGE), finalizing his statements made on December 14.
Tesla Accepts Only Dogecoin
Dogecoin is now the first digital asset accepted by the electric car manufacturer. In March 2021, Tesla announced that it would begin taking payments in Bitcoin. However, 49 days later, Tesla pulled the plug, citing concerns about fossil fuels for Bitcoin mining.
Along with accepting DOGE for payment, Tesla has confirmed that Dogecoin is the only crypto it accepts. The electric car manufacturer writes, “Tesla cannot receive or detect any other digital assets.”
Customers who send other digital assets to Tesla would be unable to get them back, as they would be lost or destroyed.
What Tesla Merc Can You Buy With Dogecoin?
With Dogecoin (DOGE) payments now live on the Tesla store, many have asked what merchandise customers could buy using DOGE – since Bitcoin was accepted for electric car purchases.
Customers can buy the Cyberquad for Kids (12,020), the Giga Texas Belt Buckle (NYSE:BKE) (835 DOGE), and the Cyberwhistle (300 DOGE).
Since the announcement, the meme coin has gained more than 20%, setting a new 30-day high of $0.2032 in the process. DOGE now trades at $0.191 and ranks as the 12th largest crypto with a $25.1 billion market cap.
On the Flipside
Tesla is yet to announce if DOGE will one day be used to buy electric vehicles.
Why You Should Care
Consuming significantly less power than Bitcoin and being better for transactions, Musk has suggested these reasons make Dogecoin his favorite cryptocurrency.
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