Tech

Tesla now accepts Dogecoin payments for some of its products

Tesla allows customers to purchase selected merchandise items using Dogecoin, according to the website and one Tweeter by CEO Elon Musk. You can now pick up the Cyberwhistle for 300 doge ($ 58), the Giga Texas belt buckle for 835 doge ($ 161) and the Cyberquad for Kids at 12,020 dogs or $ 2,320. According to the store, Dogecoin is now the only way to buy these items as the cash option is no longer showing.

Musk recently took an interest in Dogecoin, having discussed in May the potential “effectiveness” of cryptocurrency versus Bitcoin. Then in December he tweeted that the company would “make products purchasable with Doge and see how that goes.” Following Musk’s announcement today, Dogecoin has risen by around 14% in the past 24 hours.

Tesla accepted Bitcoin as a payment method for its cars in February 2021, but halted the initiative less than two months later citing Bitcoin’s environmental impact. “Cryptocurrency is a good idea on many levels … but it can’t cost the environment dearly,” Musk said. said on twitter at the time.

Dogecoin uses less energy to mine, mainly because it is worth less than Bitcoin. Musk said last year that he was working with the developers of Dogecoin to improve its efficiency, although there is still no clear way to do so without decreasing its value. That said, Block CEO Jack Dorsey just plans announced to build an open Bitcoin mining system that makes this particular cryptocurrency “more distributed and efficient”.

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