by Kevin Helms
Tesla now accepts dogecoin for some merchandise on its website. CEO Elon Musk delivered on the promise he made in December that his electric car company will accept DOGE. Meanwhile, Tesla still has not resumed accepting bitcoin.
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. The price of the meme crypto is $0.1913 at the time of writing based on data from Bitcoin.com Markets.
Tesla’s shop now has a few items that can only be bought with the meme cryptocurrency. They include a Cybertruck Graffiti Cuffed Beanie that costs 205 DOGE; a Giga Texas Belt Buckle that costs 835 DOGE; a Cyberquad for Kids that costs 12,020 DOGE; and a Cyberwhistle that 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 has said several times that DOGE is best for transactions whereas bitcoin is better suited as a store of value.
In October last year, the Tesla boss revealed that lots of people he talked to on the production lines at Tesla or building rockets at Spacex own DOGE. “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.
Meanwhile, Tesla still has not resumed accepting bitcoin for payments. The electric car company began accepting BTC in March last year but stopped in May citing 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.”
Nonetheless, Tesla still holds BTC on its balance sheet worth about $1.26 billion at the end of Q3. While the company does not own any DOGE, Musk previously said that he personally owns dogecoin, bitcoin, and ether.
Do you think Tesla will soon accept dogecoin payments for all products? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG
The Italian luxury sports car manufacturer headquartered in Maranello, Italy, Ferrari has announced the firm is partnering with Velas Network AG, a firm that specializes in blockchain and non-fungible token (NFT) technology. Ferrari Reveals Partnership With Blockchain Firm Velas On … read more.
HP-Branded Servers Hijacked to Mine $110,000 Worth of Cryptocurrency
Hackers recently took control of a group of HP-branded servers and used them to remotely mine a cryptocurrency called raptoreum, according to reports. This resulted in the compromised cluster of HP machines becoming the biggest contributor to the total mining … read more.
by Kevin Helms