There's a big difference between speculative, unbacked cryptos like Bitcoin and stablecoins: BoE's Wilkins
Elon Musk said Tesla Inc. will accept payment in Dogecoin for some merchandise, in the latest in a series of tweets supporting the cryptocurrency. Dogecoin jumped 33 per cent.
Some of Tesla’s “merch” would be buyable with the digital coin, the chief executive officer said Tuesday, with products including the US$150 Giga Texas belt buckle featuring the carmaker’s logo. Last month, Tesla’s US$50 Cyberwhistle sold out almost immediately.
“See how it goes,” Musk said. Dogecoin rose to a high of US$0.20 after the tweet, declining to US$0.18 after the initial spike.
Musk has been a vocal supporter of Dogecoin, a “meme” cryptocurrency featuring a picture of a Shiba Inu dog. The tweets from the world’s richest person have contributed to its rising popularity.