Just like many other previous instances, another tweet by Tesla CEO Elon Musk shot up the prices of a cryptocurrency, which this time, is Dogecoin.?
Musk, who has been a supporter of the crypto community, yesterday said that his company Tesla will accept dogecoin as payment for some of its merchandise, on a test basis. Post his tweet stating this, the meme-based cryptocurrency¡¯s prices surged over 20%.
But Musk did not specify what merchandise of Tesla, whose prices start from $50 and go as high as $1,900, could be bought with Dogecoin.
Amongst the merchandise, Tesla sells apparel, 'Giga Texas' belt buckles and mini models of its vehicles, besides quirky limited-edition items such as the 'Cyberwhistle', which is modelled after its much-awaited Cybertruck. Tesla had also recently launched a quad bike 'Cyberquad' for kids, also modelled after the truck.
Musk, besides being a cryptocurrency supporter, has often specifically endorsed dogecoin and had recently said that Dogecoin is better for transactions than Bitcoin, in an interview with TIME's magazine, which named him "Person of the Year" for 2021 on Monday.
Elon Musk has over 66 million followers on Twitter, and he has been highly engaged this year in tweeting about cryptocurrencies, which has often sent their prices soaring.
Interestingly, Elon Musk¡¯s Tesla had stopped accepting Bitcoin, the biggest digital currency, for payments in May 2021, just a couple of months after beginning to do so.
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