Tesla will now take DOGE coin for certain merchandise. Elon Musk, CEO of Tesla Motors Inc. fulfilled his December promise that DOGE would be accepted by the company. Tesla is still not accepting bitcoin.
Dogecoin now accepted for select Tesla merchandise
Elon Musk’s electric car company, Tesla, has begun accepting dogecoin payments for some merchandise. CEO Elon Musk announced early Friday morning on Twitter, “Tesla merch buyable with dogecoin.” He first tweeted in December last year that Tesla will accept DOGE.
Following Musk’s tweet, dogecoin immediately surged about 10% but has since lost most of its gain. According to data from Bitcoin.com Markets the current price of meme crypto is $0.1913
Tesla’s shop now has a few items that can only be bought with the meme cryptocurrency. These include a Cybertruck Graffiti Beanie, which costs 205 DOGE and a Giga Texas Belt Buckle at 835 DOGE. A Cyberquad for Kids costs 12,020 DOGE. And a Cyberwhistle costs 300 DOGE.
Tesla’s website details:
Tesla only accepts dogecoin … Non-dogecoin digital assets sent to Tesla will not be returned to the purchaser.
Prior to Tesla activating the dogecoin payment option, some people on social media noticed that the source code on Tesla’s vehicle payment pages contains the word “dogecoin.” However, Tesla has not made an announcement whether dogecoin will be accepted for vehicle purchases.
Bitcoin.com News has verified that the code behind the payment page for a Tesla Model Y contains “dogecoin.”
Musk, who has been named Time Magazine’s “Person of the Year,” has long been a supporter of dogecoin. He repeatedly stated that DOGE was better for transactions than bitcoin, but Bitcoin is more suitable as a store-of-value.
The Tesla boss disclosed that he had spoken to many people on Tesla’s production lines and Spacex’s DOGE building rockets. “They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge — it felt like the people’s crypto,” Musk explained.
Tesla hasn’t yet accepted bitcoin payments. In March 2017, Tesla began accepting bitcoin payments, but it stopped taking them in May because of environmental concerns. Musk later said that Tesla will resume accepting BTC “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”
Tesla has $1.26 trillion worth of BTC in its balance sheet at the close of Q3. Musk stated that although the company doesn’t own DOGEs, he previously claimed that ether, dogecoin and bitcoin were his personal assets.
Are you positive that Tesla will accept Dogecoin for its products in the near future? Comment below to let us know.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.