Tesla CEO Elon Musk sent crypto investors into a free for all early Tuesday morning with a tweet that his electric car company will accept dogecoin for the purchase of some merchandise.
“Tesla will make some merchandise buyable with Doge and perceive how it goes,” Musk tweeted at 5:34 a.m. ET.
It’s not satisfactory precisely what things customers will actually want to buy with the image motivated cryptocurrency.
On its website, Tesla records various clothing and way of life items, including a $50 whistle, a new $150 belt clasp and an all-electric “cyberquad,” which resembles an ATV implied for kids.
The cost of dogecoin took off almost 20% to $0.20 per coin on the news.
Musk — who on Monday was named Time Magazine’s 2021 Person of the Year — has been a vocal supporter for cryptocurrencies, particularly dogecoin, which was made as a joke in 2013 as a manner to make fun of the promotion around bitcoin and the other cryptocurrencies at that point.
Musk, who boasts a total assets some $254 billion, has recently called dogecoin “individuals’ crypto” and has said that he’s working with programming designers behind the advanced money to develop it, making exchanges quicker and all the more environmentally sound.
The tech billionaire has recently censured bitcoin for its outsized ecological effect, which incited him to quit tolerating the crypto for Tesla installments subsequent to saying the company would do as such recently.