Electric vehicle maker Tesla will start accepting Dogecoin as payment for some products.
Tesla CEO and controversial entrepreneur Elon Musk tweeted that Tesla will sell “some goods” for Dogecoin.
“Tesla will start accepting Doge for some merchandise and we’ll see how it goes.”
Musk did not specify what Tesla products will be available for Doge. On the company’s website, lifestyle products and branded clothing are available for purchase.
A day earlier, Musk stated that Dogecoin has a higher potential in terms of aggregate transaction flow, such as daily transactions, than Bitcoin. According to Musk, Bitcoin cannot replace traditional fiat currency due to low transaction volumes and high transaction fees.
Musk’s tweet was posted on December 14 at 5:34 am ET and immediately had a bombshell effect on the crypto market. In a few hours, the Doge rate soared by more than 20% against the general bearish background of other cryptocurrencies.