Elon Musk, the CEO of Tesla, announced in a tweet that Dogecoin will be accepted as payment for products like Cyberwhistle and Cyberquad for kids.
Elon Musk, the CEO of Tesla, announced on Twitter on Friday that the company will accept Dogecoin as payment for its products. “Tesla merch buyable with Dogecoin,” Musk tweeted. Last month, the CEO of the electric vehicle manufacturer indicated on Twitter that the company will allow Dogecoin payment as a test.
Following this, the cryptocurrency grew by more than 20% in December.
Following Musk’s post on Friday, the cryptocurrency increased by 18% to above $0.2. According to the Tesla website, bitcoin may be used to purchase toys for children such as the Cyberwhistle and Cyberquad.
Last year, Musk, who frequently promoted Dogecoin on social media, caused the cryptocurrency to become highly volatile.
Last year, one of his tweets referring to cryptocurrencies as “people’s currency” caused a 4,000 percent increase in the value of the digital currency. Billy Markus, Dogecoin’s co-creator, posted an image on Twitter early Friday that claimed to depict a Cyberwhistle for 300 Dogecoin.
Several of Musk’s tweets last year sent virtual currencies like Bitcoin and Dogecoin on a wild trip.
Tesla CEO Elon Musk has spoken out in support of digital currency. Tesla will accept Bitcoin as payment for its electric vehicles, he announced earlier this year. Musk eventually changed his mind, citing environmental risks that arise during the processing of digital currencies.
Musk was reportedly targeted by a group of hackers who had conducted some of the greatest digital scams in recent history after receiving harsh criticism for his tweets that negatively damaged digital currency.
Musk’s arrogant attitude toward cryptocurrencies has gone too far, according to an anonymous account that posted a video, especially when it comes to Bitcoin, which has reacted irrationally as a result of his comments.
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