Elon Musk has tweeted that Tesla will now accept Dogecoin for Merchandise. Let’s find out more about this.
Tesla CEO and internet celebrity Elon Musk has announced that Tesla will accept Dogecoin for Merchandise. This will be done as a test as of now. Subsequently, the price of Dogecoin shot up as much as 24%.
The news came from the official Twitter account of the Tesla CEO. “Tesla will make some merch buyable with Doge & see how it goes,” the tweet said.
Elon Musk hasn’t revealed anything about what merchandise are available in exchange of Dogecoin. Tesla sells a variety of merchandise ranging from apparels, belt buckles, car models and even whistles based on the upcoming Tesla Cybertruck. These items vary in the price range, going from $50 to all the way up to $1900.
Musk’s relationship with Dogecoin
Elon Musk has previously endorsed Dogecoin numerous times. Elon Musk’s personal favourite Cryptocurrency can be said to be Dogecoin. He has tweeted about Dogecoin many times. This tweet isn’t the first and hopefully wouldn’t be the last.
Previously Elon Musk said Dogecoin is a better Transactional currency than Bitcoin. This comment was because Musk thinks the transaction fee for Bitcoin is too high to be used as transactional currency. He added that due to the high fees related to transactions, the Memecoin is a better alternative.
Musk’s involvement with Dogecoin can be regarded as the reason for the phenomenal rise of Dogecoin we saw this year. Musk has never concealed his love for the Cryptocurrency. The coin jumps in value whenever Musk tweets about it.
Dogecoin has cleared one more milestone and is getting all the more popular. Hopefully, you liked this article. If you liked this article and want to read more like this, do visit our website by clicking on this link. If you want to know about the basics of Cryptocurrencies and Blockchain Technology click here.