Tesla to accept Dogecoin as payment for merchandise

Tesla Inc CEO Elon Musk said on Tuesday the electric automaker will accept Dogecoin as payment for merchandise on a test basis.

“Tesla will make some merch buyable with Doge & see how it goes,” Musk wrote on Twitter.

Dogecoin, popular among retail investors, saw an increase after the tweet.

Musk did not mention what merchandise. The prices of Tesla merchandise start from $50 and go as high as $1,900.

Musk, a cryptocurrency supporter, has endorsed Dogecoin and said it is better for transactions.

He reiterated this position in an interview with Time magazine this week. The magazine named him “Person of the Year” for 2021 on Monday.