Elon Musk says Tesla will accept dogecoin for merchandise

  • Billionaire Elon Musk wrote on Twitter, 'Tesla will make some merch buyable with Doge & see how it goes'

Livemint
Updated14 Dec 2021, 04:36 PM IST
A representation of cryptocurrency Dogecoin is seen in this illustration.
A representation of cryptocurrency Dogecoin is seen in this illustration.(REUTERS)

Tesla founder and Billionaire Elon Musk on Tuesday said the electric carmaker will accept meme-based digital currency dogecoin for merchandise on a test basis.

The cryptocurrency market has seen major fluctuations this year, often in response to Musk's tweets. His comments on dogecoin have fuelled a dizzying rally in the cryptocurrency's value this year.

Taking to twitter, Musk wrote, "Tesla will make some merch buyable with Doge & see how it goes."

Cryptocurrencies have drawn the ire of regulators worldwide and yet managed to trade at record highs as investors rush to profit from wild swings in prices.

Global regulators worry the rise in privately operated currencies could undermine their control of the financial and monetary systems, increase systemic risks, promote financial crime and hurt investors.

Musk has been offloading part of his stake in Tesla, selling $906.5 million of the company’s shares in his most-recent transaction, according to regulatory filings dated Monday.

Tesla shares have slumped 21% since Musk pledged on Twitter to dispose of 10% of his stake in early November.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:14 Dec 2021, 04:36 PM IST
HomeMarketsCryptocurrencyElon Musk says Tesla will accept dogecoin for merchandise

Most Active Stocks

Bharat Electronics

313.50
03:45 PM | 18 JUL 2024
-12.85 (-3.94%)

Oil & Natural Gas Corporation

331.20
03:42 PM | 18 JUL 2024
8.8 (2.73%)

Zee Entertainment Enterprises

142.45
03:44 PM | 18 JUL 2024
-13 (-8.36%)

Tata Steel

166.25
03:29 PM | 18 JUL 2024
-0.8 (-0.48%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

India Cements

345.50
03:29 PM | 18 JUL 2024
22.45 (6.95%)

IDBI Bank

91.90
03:29 PM | 18 JUL 2024
3.98 (4.53%)

Endurance Technologies

2,679.00
03:29 PM | 18 JUL 2024
102.4 (3.97%)

Kfin Technologies

780.00
03:29 PM | 18 JUL 2024
27 (3.59%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,099.00-147.00
    Chennai
    74,659.00-440.00
    Delhi
    74,512.00-294.00
    Kolkata
    75,539.0073.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts