Musk Confirms Tesla Now Accepts DOGE for Its Merch

Dogecoin Surges Amid Reports of Tesla Payment Trial
  • Elon Musk announced that Tesla merch can be bought with DOGE.
  • Merch for SpaceX will soon accept Dogecoin as well.
  • Dogecoin spiked 15% on a bear market after Musk’s announcement.

Elon Musk, the CEO of Tesla and SpaceX, announced via his official Twitter account that Tesla merchandise can now be purchased using Dogecoin.

He added in his tweet that merch for SpaceX, a space manufacturer company founded by Musk, can also be bought using DOGE in the near future.

Founded in 2003, Tesla has been the leading automotive and clean energy manufacturer that offers e-cars, trucks, battery energy storage, solar panels, and related products and services. The company has been the world’s most valuable automaker with a market capitalization of $787 billion as of May 2022.

To purchase from Tesla with Dogecoin, customers must look for the Dogecoin symbol next to the “order” button. The buyer will also need a “Dogecoin wallet,” a device, platform, app, or software that supports Dogecoin transfers, to purchase using DOGE on the Tesla shop.

The Dogecoin-backed Tesla products will be priced in DOGE, including applicable taxes. Also, Dogecoin becomes the only accepted cryptocurrency in Tesla. Customers must ensure to transact using DOGE only to avoid other cryptocurrencies being lost or destroyed. Tesla will not return non-Dogecoin currencies sent to Tesla.

After Musk’s announcement, the price of Dogecoin immediately climbed up to 15.8% before going down. The meme coin spiked up to $0.09 after falling to as low as $0.076 earlier today on the Binance exchange. At the time of writing, the price of Dogecoin is at $0.082 according to Coinmarketcap. The coin is currently down 2.95% in the last 24 hours.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.