Musk Declares Dogecoin “The People’s Crypto”

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Tesla will make some merch buyable with Doge & see how it goes,” Mr. Musk said in a Tweet Monday

Tesla Inc’s (NASDAQ:TSLA) Chief, Elon Musk said Tuesday the EV maker 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 declaration Tweet.

Mr. Musk’s Tweets on the cryptocurrency, including the one where he called it the “people’s crypto“, have helped the meme coin soar 5,859% over the past yr, according to data from Coinbase website. 

Mr. Musk did not specify what merchandise, which starts from $50 and goes as high as $1,900, could be bought with dogecoin. 

Tesla sells apparel, ‘Giga Texas’ belt buckles and mini models of its electric vehicles as well as 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. 

Have a prosperous day, Keep the Faith!