Dogecoin Soars After Elon Musk Announces It Can Be Used to Purchase Tesla Merch

The price of the cryptocurrency jumped more than 15% on Friday.

Tech
11,570 Hypes 9 Comments

Elon Musk took to Twitter on Friday to announce that Tesla merchandise will now be available to purchase using Dogecoin, leading to a sizable surge in the price of the cryptocurrency.

The price of Dogecoin jumped more than 15% on Friday, according to figures via CNBC. The coin reached a price of $0.20 USD at roughly 1:19 a.m. ET before settling at a price of $0.18 USD after 7 a.m. ET this morning.

“Tesla merch buyable with Dogecoin,” the CEO wrote on Twitter.

Only select items are currently buyable with the cryptocurrency: the company’s commemorative Giga Texas Belt Buckle, the Cyberwhistle, which resembles the shape of the automaker’s Cybertruck, and the Cyberquad for Kids.

Tesla has planned to accept Dogecoin as a form of payment for quite some time. In December, Musk announced on Twitter that “Tesla will make some merch buyable with Doge & see how it goes.”

There are several terms and conditions that Tesla has laid out for those who choose to purchase merch with Dogecoin. In the support section on its website, the company notes that if “an order is overpaid in Dogecoin, the overpayment amount will not be refunded to the original form of payment.” Furthermore, Tesla says that customers will need to use a Dogecoin wallet to transfer funds to the company and warns that transactions make take up to six hours to be confirmed.

Elsewhere, Jack Dorsey’s Block is getting into Bitcoin mining.

Read Full Article

What to Read Next

Elon Musk Confirms That Tesla Will Be Accepting Dogecoin as Payment for "Some Merch"
Automotive

Elon Musk Confirms That Tesla Will Be Accepting Dogecoin as Payment for "Some Merch"

“See how it goes.”

Tesla's Stock Takes a 15% Tumble Following Elon Musk's Tax Sell-Off
Tech 

Tesla's Stock Takes a 15% Tumble Following Elon Musk's Tax Sell-Off

Tesla is still up 42% YTD.

Elon Musk Sold Another $1 Billion in Tesla Shares
Tech 

Elon Musk Sold Another $1 Billion in Tesla Shares

Musk has sold a total of $9.85 billion USD in Tesla stock this month.


Elon Musk Announces Tesla AI Day
Automotive

Elon Musk Announces Tesla AI Day

Set to take place on August 19.

Louis Vuitton Unveils “Amen Break” Men’s SS22 Residency in Soho
Fashion

Louis Vuitton Unveils “Amen Break” Men’s SS22 Residency in Soho

Honoring Virgil Abloh’s creative vision.

Sneaker Room and Kyrie Irving's Nike Kyrie 7 “I Love You Mom” Collab Nods to Mother Nature
Footwear

Sneaker Room and Kyrie Irving's Nike Kyrie 7 “I Love You Mom” Collab Nods to Mother Nature

The duo of mismatching pairs are designed to represent the elements of land, air, sea and fire.

F-LAGSTUF-F and ASICS Have Prepared a Trail-Ready GEL-FUJITRABUCO 8 G-XT Collaboration
Footwear

F-LAGSTUF-F and ASICS Have Prepared a Trail-Ready GEL-FUJITRABUCO 8 G-XT Collaboration

The beige and black rendition is devised with GORE-TEX uppers.

Lil Wayne’s 2011 'Sorry 4 the Wait' Mixtape Hits Streaming Platforms
Music

Lil Wayne’s 2011 'Sorry 4 the Wait' Mixtape Hits Streaming Platforms

Initially released as an apology for the delay of ‘The Carter IV.’

Tesla’s Cybertruck Is Reportedly Now Delayed Until 2023
Automotive

Tesla’s Cybertruck Is Reportedly Now Delayed Until 2023

A source said that Tesla is changing features to make the truck a more competitive product.


Nike Gears Up for Spring With This Dunk Low "Rose Whisper" Colorway
Footwear

Nike Gears Up for Spring With This Dunk Low "Rose Whisper" Colorway

Another pastel-focused colorway for the ladies.

FKA twigs Shares 'Caprisongs' Mixtape Featuring The Weeknd, Daniel Caesar and More
Music

FKA twigs Shares 'Caprisongs' Mixtape Featuring The Weeknd, Daniel Caesar and More

Boasting 17 genre-exploring tracks.

Studio Ghibli Asks Fans To Help Find an Eraser for Hayao Miyazaki
Design

Studio Ghibli Asks Fans To Help Find an Eraser for Hayao Miyazaki

The creator’s eraser of choice has been discontinued.

Omega Returns to Space To Help Clear Failed Satellites From Orbit
Watches

Omega Returns to Space To Help Clear Failed Satellites From Orbit

Swiss watch brand extends its environmental efforts into space.

Maison Margiela and Reebok Unveil the Classic Leather Tabi Décortiqué Low for SS22
Footwear

Maison Margiela and Reebok Unveil the Classic Leather Tabi Décortiqué Low for SS22

Essentially a low-cut version of the Classic Leather Tabi High shoe that debuted in June 2021.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.