In the latest in a series of tweets supporting Dogecoin, Elon Musk stated Tesla Inc. will accept payment in Dogecoin for some products. Dogecoin has increased by 33%.
The digital token will be used to purchase some of Tesla’s “merch,” such the $150 Giga Texas belt buckle with the carmaker’s logo, according to the company’s CEO.
Tesla’s $50 Cyberwhistle sold out almost instantly last month.
See how it goes, Musk said.
Dogecoin rose to a high of $0.20 after the tweet, declining to $0.18 after the initial spike.
Musk has been a strong advocate of Dogecoin, a “meme” cryptocurrency with a Shiba Inu dog as its logo. The rise in popularity has been boosted by the world’s wealthiest person’s tweets.