Business magnate and CEO Elon Musk took to social media platform Twitter the other day and announced that Tesla merchandise could now be purchased with Dogecoin.
As expected, this announcement pumped the meme coin to 0.20 USD, where it stayed a bit until it bottomed out to around 0.17 USD whereabouts. If you think Musk’s tweet was a joke thrown to manipulate the market, it isn’t – going to the Tesla lifestyle site shows that some goods are priced in DOGE currency.
Prime examples are the Giga Texas Belt Buckle at 835 DOGE (141.95 USD), Cyberwhistle shaped in the iconic Tesla Truck at 300 DOGE (51 USD), and the CyberQuad Four-Wheel ATV for Kids at 12,020 DOGE (2,043 USD).
This isn’t the first time Elon Musk has accepted cryptocurrency as a form of payment for his products. Last year, the billionaire announced that Tesla vehicles could be bought using the top token Bitcoin. As an effect, this announcement along with other factors at the time supported the valuation of the token’s rise to stratospheric heights. Unfortunately, he rescinded that statement later on, in the name of environmental sustainability.
As of the moment, there have been no announcements regarding Dogecoin tokens no longer being accepted for Tesla merchandise. We’ll have to wait and see how this progresses, as well as the long-term effects of this business decision. Keep up with us on the official Unchain webpage.