The move, which sent Dogecoin prices up 14%, comes a month after Musk said Tesla would test the digital token as a payment option.
see photosMusk, an outspoken supporter of the cryptocurrency, has been a huge influence on the prices of Dogecoin and Bitcoin.
Tesla Inc. will accept the meme-based cryptocurrency Dogecoin as payment for its goods such as “Giga Texas” belt buckles and mini models of electric vehicles, Chief Executive Officer Elon Musk said in a tweet on Friday.
The move, which sent Dogecoin prices up 14%, comes a month after Musk said Tesla would test the digital token as a payment option.
Musk, an outspoken supporter of the cryptocurrency, has been heavily influenced by the prices of Dogecoin and bitcoin, and at one point said that the company would accept bitcoin to buy its cars before the ax plans.
Tesla’s merchandise, including the recently launched “Cyberwhistle” and “Cyberquad for Kids,” are hits with their fans, and usually sell out within hours of listing.
Alex Kuptsikevich, senior financial analyst at FxPro, said, “Some people have noted that Doge’s stuff is selling out faster than the dollar. This news is a good example of crypto’s continued penetration into corporate culture.”
Tesla revealed last year that it had bought $1.5 billion worth of bitcoin.
Musk’s tweets on Dogecoin, in which he called it “the people’s crypto”, have turned the once obscure digital currency, which began as a social media joke, into a speculator’s dream. Token price increased by almost 4,000% in 2021.
Tesla revealed last year that it had bought $1.5 billion worth of bitcoin, and Musk has also said that he owns some bitcoin and Dogecoin.
Tesla is facing intense competition as startups including Ford Motor Company as well as Rivian Automotive prepare to launch their electric cars this year.
0 notes
Tesla’s much-anticipated Cybertruck will begin production in the first quarter of 2023, backing its plan to start production in late 2022, Reuters reported.
for the latest auto news And ReviewFollow carandbike.com Twitter, Facebook, and subscribe to our youtube Channel.
,