What to know

  • Dogecoin (DOGE) payments went live on the Tesla store in Asian hours on Friday, with prices seeing an 11% increase shortly afterward.

  • The store displays pricing information in both U.S. dollars and dogecoin. The Giga Texas Belt Buckle lists for 835 DOGE (≈$155.5); the Cyberquad sells for 12,020 DOGE (≈$2,296), while a Cyberwhistle goes for 300 DOGE (≈$57).

  • Dogecoin was trading at $0.19 at the time of writing and is the world’s 11th largest cryptocurrency with a market capitalization of $24 billion.

  • The move comes nearly a month after Tesla CEO Elon Musk said in December 2021 that the electric-car maker would accept Dogecoin as payment for its merchandise. “Tesla will make some merch buyable with Doge & see how it goes,” he said at the time.

  • Earlier this year, Tesla started accepting bitcoin as payment for its electric cars. The pilot proved short-lived amid rising concerns about Bitcoin’s energy usage and was soon dropped.

All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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