Back in December, we reported that Dogecoin support was going to be made available in the Tesla shop for buying merchandise. At the time, CEO Elon Musk said the firm would see how things go. Today, Musk has confirmed via Twitter that Dogecoin is now accepted for merchandise purchases.
Musk’s announcement was very brief and simply said goods are now ‘buyable’ with Dogecoin. He did not elaborate on whether this was just a trial period or whether support could be pulled in the future. Furthermore, it’s important to clarify that only items in the Tesla shop can be purchased with Dogecoin, not Tesla vehicles which cost substantially more money.
Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022
As was to be expected by such an announcement, the price of Dogecoin has picked up steeply on the announcement but other cryptocurrencies such as Bitcoin and Ether seem unmoved. News that a big company like Tesla is accepting Dogecoin certainly won’t hurt other cryptocurrencies, in fact, it will boost confidence in them.
Musk, yet again, did not specify which items in the Tesla shop can be purchased with Dogecoin but also didn’t say any products were exempt either. If you do plan to buy anything use Dogecoin, just have your bank card at the ready too in case any items aren’t purchasable with Dogecoin.