Tesla will accept dogecoin for merchandise

Elon Musk, CEO of Tesla Inc, said that the electric carmaker will accept dogecoin for items on a trial basis.

Following the announcement of the CEO of Tesla, Dogecoin increased by 24% to $0.195.

The company sells items such as shirts, belt buckles, tiny versions of its cars, a quad bike for youngsters called the ‘Cyberquad,’ and a whistle called the ‘Cyberwhistle,’ which is fashioned after its much-anticipated Cybertruck.

This year’s bitcoin market has experienced significant volatility, typically in response to Musk’s tweets. His dogecoin statements have fueled a stratospheric rise in the cryptocurrency’s value this year.

The car manufacturer company has previously stated that it will no longer take bitcoin for car purchases, less than two months after it began taking the world’s largest digital currency as payment.

According to regulatory documents dated Monday, Musk has been selling a portion of his interest in Tesla, selling $906.5 million of the company’s shares in his most recent transaction.

Tesla shares have fallen 21% after Musk said on Twitter in early November that he would sell 10% of his holdings.

Patrick

Coincu News