Dogecoin Jumps 20% as Tesla Begins Accepting it for Payment

The price of dogecoin went up by almost 20% on Friday as Tesla Inc. began accepting it as payment for merchandise
At the moment, only a small number of items such as belts and whistles can be purchased with the meme cryptocurrency
The company has imposed some conditions to using the coin as payment such as no refunds and cancellations

The price of Dogecoin went up by more than 15% on Friday as Tesla began accepting the meme coin as payment for some merchandise.

Early on Friday, Tesla CEO Elon Musk announced that some merchandise can now be purchased with the doge-themed cryptocurrency.

The meme cryptocurrency topped $0.20, adding almost 20% in the past 24 hours, according to data from CoinMarketCap.

At the moment, only a small number of items can be bought with DOGE on the electric car maker’s platform.

A whistle shaped like Tesla’s Cybertruck costs 300 DOGE , approximately $59 while a belt buckle cost 835 DOGE, or about $164.

Plans for the company to begin accepting Dogecoin as payment first became public in December 2021, when Elon Musk tweeted about it.

The billionaire tweeted:

“Tesla will make some merch buyable with Doge & see how it goes.”

Elon Musk has been known as a high-profile supporter of Dogecoin and he has frequently tipped it to be better for payment than Bitcoin.

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