Tesla now lets you buy some merch in Dogecoin

Tesla now allows customers to purchase select items using Dogecoin, the company CEO Elon Musk announced. Products purchasable with the meme-based cryptocurrency include Cyberquad for Kids (12020 doge / approximately $2,320), Giga Texas Belt Buckle (835 doge / approximately $161) and Cyberwhistle (300 doge / approximately $58). interested in trade He notes that Dogecoin rose 16 percent to about $0.20 after the news.

The initiative was initially announced by Musk on Twitter On December 14 When he said the company would “see how it goes” with the option to pay in cryptocurrency. It’s unclear if or when Tesla will accept payment for its vehicles in Dogecoin, which Musk has previously said might be. His favorite cryptocurrency.

The initiative appears to be supported outside of the US, where an S3XY mug with Dogecoin can be purchased at a UK Tesla store for 150 Doge (about $29). As of this writing, Dogecoin now appears to be the only way to purchase certain items, as the usual payment codes are gone.

The support for Dogecoin purchases comes just months after Tesla began accepting Bitcoin for the purchase of cars, only to stop the practice after 49 days, citing concerns about the use of fossil fuels for Bitcoin mining. “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a significant cost to the environment,” Elon Musk said in a statement.

S3XY Mug, available for 150 dogs.
Screenshot: Tesla.com

Dogecoin does not currently consume nearly the same amount of energy per transaction as Bitcoin, according to research from TRG data centers. But Dogecoin remains a power-intensive proof-of-work cryptocurrency, as digital currency economist Alex de Vries explained in May. The smaller power usage per transaction is largely due to it being an asset of less value than Bitcoin currently.

On the other hand, the musk said in May He has been working with Dogecoin developers to “improve the efficiency of system transactions”. He wasn’t shy about his support for cryptocurrency, which started its life as a joke based on the Doge meme. “A lot of the people I’ve talked to on the production lines at Tesla or building rockets at SpaceX own the Doge,” Musk told CNBC in October. “They are not financial experts or technical experts in Silicon Valley. That’s why I decided to support Doge, it felt like crypto people.”

SpaceX, another Elon Musk project, began accepting payment at Dogecoin in May and next year plans to send a satellite called DOGE-1 to the Moon.

Leave a Comment