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1.45%Dogecoin Surges 11% as Payments Go Live on Tesla Store
Users can purchase belt buckles, chargers, and other merchandise as of Friday.
Updated May 11, 2023, 6:58 p.m. Published Jan 14, 2022, 5:57 a.m.
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 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.
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Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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