Tesla Inc will accept meme-based cryptocurrency dogecoin as payment for its merchandise such as the “Giga Texas” belt buckle and mini models of electric vehicles, Chief Executive Officer Elon Musk said in a tweet on Friday, January 14.
Tesla’s merchandise, which also include the recently launched “Cyberwhistle” and “Cyberquad for Kids,” are a hit with its fans, and usually sell out within a few hours of listing. Musk’s tweets on dogecoin, including the one where he called it the “people’s crypto,” have turned the once-obscure digital currency, which began as a social media joke, into a speculator’s dream. The token’s price surged by about 4,000% in 2021.
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