Elon Musk says Tesla will accept Dogecoin for merchandise
Jan 14, 2022 – Tesla will now accept Dogecoin as payment for their merchandise. CEO Elon Musk took to Twitter to announce this exciting news!
A month ago, Elon Musk announced that Tesla would test out the cryptocurrency dogecoin as a payment option. I think this is great for crypto-enthusiasts since it means more crypto adoption. Moreover, the move comes shortly after DOGE prices increased by 14%.
Whether you are a strong supporter of bitcoin or not, Tesla’s decision to accept cryptocurrency would have impacted the overall market. Mr. Musk is a vocal proponent of cryptocurrencies and has heavily influenced their prices before announcing such plans.
Tesla’s merchandise, including their latest invention, “Cyberwhistle” and “Cyberquad for kids”, are a hit with their fans. They sell out in the first few hours they’re listed on Amazon.
Musk’s tweets on Dogecoin have led to a surge of popularity and a 4k% increase in the price of the digital currency, which is being called “the people’s crypto”.
Last year Tesla disclosed that it had acquired $1.5 billion worth of bitcoin, and CEO Elon Musk also says he owns some Bitcoin & Dogecoin.
This year, Tesla is facing intense competition from traditional automakers and start-ups, including Ford Motor and Rivian Automotive. Tesla is pushing its production start date (originally planned in the latter half of 2022) further back due to some setbacks in shipping issues. After experiencing these hurdles, the company expects to begin the production of its much-awaited Cybertruck in the first quarter of 2023.
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