Tesla now lets customers buy select items of merchandise using Dogecoin. Products Buyable with the meme-based cryptocurrency include the cyberquad for kids (12,020 Doge / around $ 2,320). Business Insider notes that Dogecoin was up 16 percent to around $ 0.20 following the news.
It’s unclear if or when Tesla will accept payment for its vehicles in Dogecoin, which may be his favorite cryptocurrency payment option.
The s3xy mug Buyable with Dogecoin from the UK Tesla store for 150 Doge (around $ 29). Dogecoin now appears to be the only way to buy certain items, as their regular payment icons have disappeared.
Support for Dogecoin purchases comes just months after Tesla began accepting Bitcoin for car purchases, only to cease the practice 49 days later. Elon Musk said:’this can not come at great cost to the environment’.
Dogecoin does n’t consume anywhere near the same amount of energy per transaction as Bitcoin. But its smaller energy use per transaction is largely because it’s currently a less valuable asset than Bitcoin.
Musk said in May that he was working with Dogecoin developers to’improve system transaction efficiency’. The cryptocurrency started life as a joke based on the Doge meme.