Skip to main content

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

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.

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

Do you think Tesla will soon accept dogecoin payments for all products? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3quChM1
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more