Elon Musk said Tesla is accepting payment for some merchandise with dogecoin. The cryptocurrency surged more than 10%.
is accepting payment for some merchandise with dogecoin, a return for the electric-vehicle maker to acceptance of digital currencies for some payments., “Tesla merch buyable with Dogecoin.” The company’s website showed some items, including one labeled a “Giga Texas Belt Buckle,” priced in the cryptocurrency.commenting on cryptocurrencies
. Dogecoin’s value jumped late last year when Mr. Musk indicated Tesla would make some merchandise available for purchase using the payment form. Tesla last year bought $1.5 billion of bitcoin. Mr. Musk also said at the time that the company would begin accepting payments in the cryptocurrency. It laterMr. Musk last year said that
, Space Exploration Technologies Corp., or SpaceX, hold bitcoin. The billionaire chief executive said he also owns ethereum and dogecoin, other cryptocurrencies, though those holdings are worth less than his bitcoin stake.and is centered around a Shiba Inu internet meme. The value of the cryptocurrency surged last year and remains around 2,000% higher than a year ago.
Mr. Musk—the world’s richest person, according to the Bloomberg Billionaires Index—is closely associated with dogecoin. Almost a year ago, he tweeted a faux “Dogue” magazine cover to his millions of followers. He mentioned the currency again on Twitter a few days later, sending its value up 80% intraday, before paring gains.. In a satirical segment, Mr. Musk appeared as “The Dogefather.