Tesla Inc chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up 24%.
A representation of cryptocurrency Dogecoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustrationchief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up 24%.Dogecoin, , popular among retail investors, raced up to $0.20 after the tweet.
Tesla sells apparel, 'Giga Texas' belt buckles and mini models of its vehicles as well as quirky limited-edition items such as the 'Cyberwhistle', which is modeled after its much-awaited Cybertruck. It recently launched a quad bike 'Cyberquad' for kids, also modeled after the truck. Musk, a cryptocurrency supporter, has often endorsed dogecoin and said it is better for transactions, most recently in an interview to the Time magazine, which named him "Person of the Year" for 2021 on Monday.Musk had asked users in May if they wanted Tesla to accept dogecoin in a Twitter poll. He had called dogecoin a 'hustle' during his guest-host spot on the "Saturday Night Live" comedy sketch TV show in May.
Musk, who has over 66 million followers on Twitter, has been highly engaged in this year's retail trading frenzy, tweeting about cryptocurrencies and helping send their prices soaring. The EV maker stopped accepting bitcoin for car purchases, less than two months after the company began to accept the world's biggest digital currency for payment.Reporting by Nivedita Balu and Medha Singh in Bengaluru; Editing by Krishna Chandra EluriSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk, CEO of Tesla and SpaceX, is Time's Person of the YearElon Musk, the CEO of Tesla and SpaceX, has been named Time magazine’s 'Person of the Year' for 2021.
Read more »
Doge jumps after Elon Musk says Tesla will make merchandise available to buy with itThe cryptocurrency Doge undefined jumped 18% after Tesla Chief Executive Elon Musk made yet another tweet about it, saying Tesla will make some merchandise...
Read more »
Time magazine's 'Person of the Year' is Elon Musk | AP NewsNEW YORK (AP) — Calling him a “clown, genius, edgelord, visionary, industrialist, showman,' Time magazine has named Tesla CEO Elon Musk as its Person of the Year for 2021. Musk, who is also the founder and CEO space exploration company SpaceX, recently passed Amazon founder Jeff Bezos as the world’s wealthiest person as the rising price of Tesla pushing his net worth to around $300 billion.
Read more »
Elon Musk says his tweets don't impact Tesla's stock that muchInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
'Offensive,' 'Well deserved': Reactions pour in to Elon Musk as Time's Person of the YearTIME magazine named entrepreneur and billionaire Elon Musk as their 'Person of the Year,' sparking a slew of mixed reactions online from Elizabeth Warren and more. Read more:
Read more »
Elon Musk as TIME's 'Person of the Year' Is Going to BackfireDo we really need to boost the 50-year-old Tesla founder's ego even further?
Read more »