Elon Musk says Tesla to accept dogecoin
Tesla Motors Inc
$454.13
13:09 26/12/24
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-$8.15
Tesla will experiment with taking payments in dogecoin, Chief Executive Elon Musk said on Tuesday.
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12:15 26/12/24
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Musk, already a supporter of the cryptocurrency, tweeted: "Tesla will make some merch buyable with Doge & see how it goes." Dogecoin surged 33% at 12:32 GMT.
He made his comment after saying dogecoin was a better payment method than bitcoin because bitcoin's transaction volume was low and the price of a transaction was high. Earlier in December Tesla reversed a move to accept bitcoin because of the environmental impact.
In May, Musk, who is the world's richest person, asked his Twitter followers if Tesla should accept dogecoin. More than three quarters of those who responded said it should.