Electric vehicle manufacturer Tesla recently announced that it would start accepting Dogecoin (DOGE) as payment for merchandise on its online store. Tesla CEO Elon Musk tweeted a confirmation earlier today as the car company looks to be exploring payment options.
According to reports, having a DOGE-enabled wallet is a prerequisite to transacting (paying for) the listed Tesla items on offer. Some of the items listed are the Cyberwhistle (300 DOGE), Giga Texas Belt Buckle (835 DOGE), and the Cyberquad for Kids (12020 DOGE). According to reports, all these items are already sold out, and those already purchased with DOGE cannot be returned. In addition, buyers cannot return or exchange purchased products for other products.
Shortly after the Tesla news, the price of DOGE initially surged by 11% to $0.21. However, as of press time, DOGE is trading at $0.19.
Sometime last year, Musk had teased that Tesla will begin accepting DOGE as payment at some point. The electric car company is a known supporter of digital currencies for mainstream transactions. In fact, much earlier in 2021, Tesla announced that it would begin to accept Bitcoin (BTC) as payment for all its products, including its cars. However, a little over a month later, the automaker rescinded that decision with Musk citing environmental concerns BTC poses.
Image Credits: Pixabay
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