Tesla Begins Accepting Dogecoin Payments — Some Merchandise Can Only Be Purchased With DOGE
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.
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. 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.
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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.