Tesla to Accept Dogecoin (DOGE) for Merchandise: Elon Musk Confirms

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December 14, 2021

Billionaire Elon Musk has confirmed that his electric car company Tesla is going to accept Dogecoin as a mode of payment. This pushed the market price of the meme token around 26 percent higher.

In a tweet on Tuesday, Musk said that the car manufacturer will start accepting DOGE as payment for selling some of its merchandise. However, the roll-out might be on a trial basis before the company starts to accept the meme token for selling cars.

Tesla will make some merch buyable with Doge & see how it goes

— Elon Musk (@elonmusk) December 14, 2021

A Meme Token Messiah

Musk, who was named Time Magazine’s Person of The Year for 2021, is a proponent of cryptocurrencies and has regularly Tweeted and talked in favor of them. He is very popular within the Dogecoin community for his supportive Tweets that often pushed the price of the token higher. He even plugged Dogecoin in the popular American comedy show Saturday Night Live (SNL), calling it a ‘hustle’.

However, this will not be the first time Tesla is accepting digital currency as payment. Earlier, the company started to accept Bitcoin to sell its cars, but scrapped the payment mode within a couple of months, citing environmental issues with Bitcoin mining.

Though Tesla is known for its electric cars, the company sells a long line of merchandise, that ranges from apparel and belt buckles to various types of car accessories. The value of Tesla merchandise starts from $50 and goes as high as $1,900, and sometimes even higher for limited edition products, all of which now can be bought with Dogecoin.

Meanwhile, the meme token is trading at $0.20, as of press time, jumping from $0.16 in minutes after Musk’s confirmation.

Billionaire Elon Musk has confirmed that his electric car company Tesla is going to accept Dogecoin as a mode of payment. This pushed the market price of the meme token around 26 percent higher.