The value of meme-based dogecoin surged Friday morning after Musk said that he will accept the token as payment for some of his merchandise, signaling the electric car maker's renewed interest in digital currencies.
Musk said that he will accept doge coin for payment.
The images are from the same company.
After Musk made the announcement on social media, the price of dogecoin jumped 12%, at one point trading just above $0.2.
The company's online store displayed prices for some items, including a whistle inspired by the Cybertruck model, an electric quad bike for children, and a belt buckle.
Dogecoin has grown more than any other top cryptocurrencies over the past 24 hours.
In December, Musk said thatTesla would soon be accepting dogecoin for some products and the token's value soared nearly 20% in an hour. Dramatic shifts in financial markets have been caused by Musk's social media posts, particularly with cryptocurrencies and assets popular with retail traders. Musk went from a joke to one of the world's most valuable cryptocurrencies at its peak, as interest in dogecoin, one of the most volatile assets within an already volatile asset class, tracked closely. It is the 11th most valuable token and has a market cap of over $26 billion.
There is a structure called the Tangent.
The world's most valuable currency, the virtual coin, was briefly accepted as payment for its electric vehicles. The company would no longer accept it as payment, sending its value plunging.
The CEO of the company says that they will accept doge coin payments for some products.
Musk said thatTesla stopped accepting it due to carbon energy use.
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