Tesla to try accepting Dogecoin to pay for some products: up 24%

Elon Musk makes the Dogecoin soar again.

Photo: Photo by Rūdolfs Klintsons from Pexels / Pexels

One more time Elon Musk announces something regarding his electric car company Tesla and the meme’s cryptocurrency, the Dogecoin; and the value of the crypto moves unexpectedly. This time in favor, as has not happened for a long time. Today, Tuesday, the puppy’s cryptocurrency soared up to 24% in value.

The news was that Musk reported on his Twitter account that the automaker will accept Dogecoin as a payment method, in what he called a “trial period.”

By the time of writing this note, the Doge was trading at $ 0.18 and was still trending upward or at least green. On the contrary, the manufacturer’s shares experienced a drop in the first hours, of up to 3%. Musk’s message has been retweeted by more than 40,000 people.

The detail is that Musk did not specify what type of merchandise could be sold and accept doge as a payment method. He just said “some merchandise.”

Tesla has small merchandise and accessories ranging from $ 50 to $ 1,900. Clothes, mugs, belt buckles and even a cyber whistle stand out, which went on sale on November 30 and sold out in hours.

Elon Musk’s movements and announcements on his Twitter account always wreak havoc, be it in cryptocurrencies or in the value of the shares of his company, in this case Tesla.

Last November, Musk asked on Twitter “if he was selling Tesla shares”, assuring that he would heed the recommendation, and the survey closed with a 57.9% approval of the sale.

Immediately for Tesla the movements in the stock market began to look negative. Before the opening session the day after your question, the stock fell as much as 6%. And then the drop came to 12%.

Prior to this, Tesla accepted Bitcoin as a payment method for the purchase of its cars. However, in the middle of this year 2021 Musk returned to the topic of Bitcoin and let it be known that he was changing his mind. Since then, it is expected that he will announce that he will accept bitcoins as a payment method again, but that news has not yet been given.

Musk has more than 60 million followers on his official Twitter account and is active almost daily on the topic of cryptocurrencies and every time he mentions one, its price drops or skyrockets.