Tesla CEO Elon Musk announced on Twitter that the company now lets its customers buy some of the merchandise from the Tesla Shop using the Dogecoin cryptocurrency. Only this type of cryptocurrency will be accepted as payment, Tesla's official website says.
Also, according to Tesla's sale rules, goods purchased using Dogecoin cannot be returned or exchanged, unlike purchases made with money.
Currently, the products buyable using Dogecoin include the Giga Texas Belt Buckle, the Cyberwhistle, and the Cyberquad for Kids.
Following the announcement, the Dogecoin cryptocurrency exchange rate immediately increased by 16% and reached the level of $0.20 per coin.
Elon Musk has previously mentioned Dogecoin multiple times on his Twitter. Musk announced that some of the merch would be buyable back in mid-December last year, noting that the company would “see how it goes.”
In March 2021, Tesla began accepting payments for its electric cars in Bitcoin. However, in May, the company ceased this practice due to concerns about the use of fossil fuels in cryptocurrency mining.