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Tesla products can be bought for Dogecoin

January, 14 2022
watermark Economic news

After Tesla Inc CEO Elon Musk posted on his Twitter account that the company's products could be bought using the Dogecoin cryptocurrency, the price of the coin jumped by 18% and exceeded $ 0.2.

At the same time, electric cars themselves are not yet available for purchase with Dogecoin. Buyers can purchase only some collectible items: a cyber whistle, a belt buckle «Giga Texas» and four-wheeled electric quadricycles for children. The retail value of these lots is 300 DOGE ($57), 835 DOGE ($160) and 12,020 DOGE ($2,287), respectively. 

Earlier in December, the publication of a similar test use of Dogecoin led to an increase in the value of this currency by more than 20%. In total, Dogecoin grew by about 4,000% in 2021 thanks to Musk's tweets alone. 

Currently, the «people's cryptocurrency» is the 11th largest cryptocurrency with a market capitalization of $25.2 billion. However, the general decline observed in the crypto market in recent days has led to a decrease in the price to the lowest since April 2021. 

Last year, Tesla accepted bitcoin payments for its products, including cars, but in May 2021, Musk announced the termination of such operations due to concerns about environmental damage from BTC mining. Regarding Dogecoin, Tesla has not yet reported whether it is concerned about environmental issues related to this currency.

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