Tesla now accepts Dogecoin for some Merchandise

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Tesla now accepts Dogecoin for some Merchandise
Tesla now accepts Dogecoin for some Merchandise

Elon Musk Boost Dogecoin : Tesla Merch

Tesla Inc’s products, such as the “Giga Texas” belt buckle and tiny electric vehicle models, will take the meme-based cryptocurrency dogecoin as payment, according to Chief Executive Officer Elon Musk in a tweet on Friday. The news, which pushed dogecoin prices up 14%, comes just a month after Musk said that Tesla will test the digital currency as a payment option. Musk, a strong proponent of cryptocurrencies, has had a significant impact on the pricing of dogecoin and bitcoin, and had previously stated that the company would take bitcoin for car purchases before abandoning those plans.

Tesla Merchandise

Tesla now accepts Dogecoin for some merchandise

Tesla’s products, which includes the recently released “Cyberwhistle” and “Cyberquad for Kids,” is a popular with the company’s fans and generally sells out within hours of being listed. “Some have observed that products sold in doge sell out even faster than goods sold in dollars. This revelation exemplifies crypto’s continuing infiltration of corporate culture “FxPro’s senior financial analyst, Alex Kuptsikevich, agreed.

Musk And Dogecoin Chemistry

Musk’s tweets for dogecoin, including one in which he referred to it as the “people’s crypto,” have turned the once-obscure digital currency into a speculator’s fantasy. In 2021, the token’s value increased by about 4,000 percent.Tesla revealed last year that it has purchased $1.5 billion in bitcoin, and Musk has stated that he owned bitcoin and dogecoin.

Tesla’s Future Plans

Tesla is up against stiff competition, as both established manufacturers like Ford and startups like Rivian Automotive plan to launch electric vehicles this year.According to Reuters, Tesla’s much-anticipated Cybertruck will go into production in the first quarter of 2023, a year later than planned.

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