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Here’s how Musk makes Dogecoin soar

Here's how Musk makes Dogecoin soar

Musk opens to dogecoin payments for "some products" Tesla and cryptocurrency soars to + 15%

Here we go again: Dogecoin's value skyrockets after Elon Musk said it will be accepted for Tesla products.

Tesla boss announced on Friday that he will accept payments in dogecoin for "some Tesla products" and the cryptocurrency soars to + 15%, bucking the trend of the digital assets sector which declined after four days of sustained earnings.

This is the second time that Tesla's founder and CEO has made a similar announcement.

Back in December Musk had tweeted: "Tesla will make merchandise available for purchase with Doge and we'll see how it goes." After that tweet from Musk, the dogecoin gained over 20%, hitting $ 0.20. Over the past 12 months, the cryptocurrency has risen by 5.859%, according to data from the Coinbase website.

All the details.


"Tesla merchandise will be available for purchase in dogecoin," Musk said Friday, without specifying which specific product range will be affected.

In fact, shortly after the payments in dogecoin were posted on Tesla's website, the Guardian reports, with items like a children's electric quad priced at 12,020 doge ($ 2,368; £ 1,735) for those on more modest budgets a “Buckle per Giga Texas belt ”, for 835 doge ($ 156). ) or a whistle for 300 doge ($ 57).

As CNBC points out, however, there are a number of conditions related to paying with dogecoin, including no refunds or cancellations.


Dogecoin, a crypto born as a joke in 2013 to resume popular memes on social networks created with images of the Shiba dog, has actually grown a lot in recent years, also pushed by the tweets of Musk who on several occasions has supported the increases.

Meanwhile, the dogecoin joke has become a highly respected digital asset, which today capitalizes on about 24 billion dollars. A dogecoin is currently trading at $ 0.19.


Elon Musk is used to sharing his views on cryptocurrencies on social media , and in 2021 they created strong price movements in this very volatile market. It happened when at the beginning of last year he announced that Tesla would invest in bitcoin , and then open up to car payments in cryptocurrencies (only to change his mind by accusing cryptocurrencies of being too energy-intensive at the moment). When named 'Person of the Year 2021' by Time magazine in December, Elon Musk said that bitcoin is a good way to store value, but that dogecoin, "even if it was created as a joke, is a means of better exchange ".

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/ecco-come-musk-fa-spiccare-il-volo-a-dogecoin/ on Fri, 14 Jan 2022 14:21:43 +0000.