Elon Musk says Tesla to accept dogecoin as payment for merchandise

 Tesla Inc (TSLA.O) will accept meme-based cryptocurrency dogecoin as payment for its merchandise such as the "Giga Texas" belt buckle and mini models of electric vehicles, Chief Executive Officer Elon Musk said in a tweet on Friday.


The move, which sent dogecoin prices 14% higher, comes a month after Musk said Tesla would test out the digital token as a payment option.


Musk, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin, and at one point had said the company would accept bitcoin for purchasing its cars before axing plans.


Tesla's merchandise, which also include the recently launched "Cyberwhistle" and "Cyberquad for Kids", are a hit with its fans, and usually sell out within a few hours of listing.





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