Musk says Tesla will test dogecoin as payment for some products

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Tesla’s chief executive, Elon Musk, said on Tuesday (14) that the automaker will accept dogecoin as payment in a testing phase, boosting the cryptocurrency to a 24% appreciation.

“Tesla will have some products that can be bought with Doge and we’ll see where that goes,” Musk said on his Twitter account.

Dogecoin rose to US$0.20 (R$1.1) after the comment. At 10:16 am, the currency appreciated by 28.8%.

Musk’s publications on the cryptocurrency, including one in which he called it “the people’s cryptocurrency,” helped the currency gain a 5,859% appreciation last year, according to data from the Coinbase company.

Musk did not specify which goods, which cost from US$ 50 (R$ 282) to US$ 1,900 (R$ 10,700), could be bought with dogecoin.

Tesla sells clothing, “Giga Texas” belt buckles and miniatures of its vehicles, as well as quirky limited-edition items like the “Cyberwhistle” whistle modeled on the shape of the Cybertruck pickup truck. Recently, the company launched the electric quad “Cyberquad” for children, also inspired by the pickup truck.

Musk, a cryptocurrency advocate, often supports dogecoin and claims it is the best medium for transactions. More recently, in an interview with Time magazine that named him “Person of the Year” in 2021 he stated that “bitcoin is not a good substitute for transactional currency,” he said.

Tesla stopped accepting bitcoin in the sale of its cars less than two months after the company began accepting digital currency.

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