Friday, August 19, 2022
News

Tesla to accept dogecoin as payment for merchandise, says Musk

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

San Francisco | Friday, 2022 6:45:08 PM IST
Tesla CEO Elon Musk on Friday said the electric carmaker will accept meme-based digital currency dogecoin for merchandise.

"Tesla merch buyable with Dogecoin," Musk said in a tweet.

Following the news, Dogecoin raced up to $0.20.

Tesla sells apparel, 'Giga Texas' belt buckles and mini models of its vehicles as well as quirky limited-edition items such as the 'Cyberwhistle', which is modelled after its much-awaited Cybertruck.

After vouching for Bitcoin, Tesla CEO Elon Musk now supports Dogecoin cryptocurrency, even calling him "Dogefather".

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system. Nearly 113 billion coins have already been mined.

In addition, Musk earlier confirmed that the company is "most likely" going to resume taking Bitcoin payment after some due diligence on the improvements in the energy mix used to mine the cryptocurrency.

"I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 per cent, and that there is a trend toward increasing that number, and if so Tesla would resume accepting bitcoin," Musk said.

"Most likely the answer is that Tesla would resume accepting bitcoin," he added.

Musk also confirmed that he has a significant personal investment into bitcoin on top of Tesla's investment and he has smaller Ethereum and Dogecoin holdings.

--IANS wh/svn/ksk/

( 243 Words)

2022-01-14-12:48:03 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE SCIENCE NEWS
ICEA welcomes govt steps on common charg...
Researchers discover how impact causes a...
New study model sheds light on how organ...
Shiprocket raises $33.5 mn, becomes Indi...
Unacademy founder Gaurav Munjal says no ...
Study suggests voter fraud conspiracy th...
More...
 
INDIA WORLD ASIA
Customs official held for acting as cond...
Parliamentary panel on energy may meet t...
'Lot of importance of marriage for women...
J&K 'Toshkhana' brought under administra...
Asia Cup: How UAE became world's first c...
Director who put actor Dileep in a spot ...
More...    
 
 Top Stories
Xqbic Ventures releases its first m... 
Durand Cup: Neroca FC beat TRAU FC ... 
Sensex tumbles 658 points; banking ... 
Domestic commercial vehicle industr... 
Luxura Sciences aims to expand its ... 
Assam: 2 Bangladeshi infiltrators s... 
'The Fabulous Lives of Bollywood Wi... 
Pakistan PM Shehbaz Sharif desires ...