Tesla now accepts dogecoin for some merchandise on its website. CEO Elon Musk delivered on the promise he made in December that his electric car company will accept DOGE. Meanwhile, Tesla still has not resumed accepting bitcoin.
Dogecoin is now accepted for some Tesla merchandise
Elon Musk’s electric car company Tesla has started accepting dogecoin payments for certain goods. CEO Elon Musk announced early Friday morning on Twitter, “Tesla merch purchasable with dogecoin.” He first tweeted in December last year that Tesla would accept DOGE.
Following Musk’s tweet, dogecoin immediately surged about 10% but has since lost most of its gain. The price of the meme crypto is $0.1913 at the time of writing based on data from Bitcoin.com Markets.
Tesla’s store now offers a few items that can only be purchased with the same cryptocurrency. They include a Cybertruck Graffiti cuffed beanie that costs 205 DOGE; a Giga Texas belt buckle that costs 835 DOGE; a Cyberquad for Kids which costs 12,020 DOGE; and a Cyberwhistle which costs 300 DOGE.
Tesla’s website details:
Tesla only accepts dogecoin … Non-dogecoin digital assets sent to Tesla will not be returned to the purchaser.
Before Tesla enabled the dogecoin payment option, some people on social media noticed that the source code on Tesla’s vehicle payment pages contained the word “dogecoin”. However, Tesla has not announced whether dogecoin will be accepted for vehicle purchases.
Bitcoin.com News has verified that the code behind the payment page for a Tesla Model Y contains “dogecoin.”
Musk, who was named “Person of the Year” by Time Magazine, has long been a supporter of dogecoin. He has repeatedly said that DOGE is best for transactions while bitcoin is better suited as a store of value.
In October last year, the Tesla boss revealed that lots of people he talked to on the production lines at Tesla or building rockets at Spacex own DOGE. “They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge — it felt like the people’s crypto,” Musk explained.
Meanwhile, Tesla still hasn’t started accepting bitcoin for payments again. The electric car company started accepting BTC in March last year, but stopped in May citing environmental concerns. Musk later said that Tesla would resume accepting BTC “When there is confirmation of reasonable (~50%) clean energy use by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions.”
Nonetheless, Tesla still holds BTC on its balance sheet worth about $1.26 billion at the end of Q3. While the company does not own any DOGE, Musk previously said that he personally owns dogecoin, bitcoin, and ether.
