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Dogecoin, a virtual currency initially started as a joke, has started to allow people to buy brand merchandise using it.
On Friday, Mr Musk announced the development on his verified account.
The value of Dogecoin went up more than 12%.
Mr Musk's comments have moved the prices of digital currencies.
The move came a month after Mr Musk said that he would test out the digital token as a payment option.
Dogecoin, a parody of thecryptocurrencies craze, was once obscure.
The value went up 4,000% last year due to promotion from Mr Musk.
He said his space company would accept it as payment for his investment in the token.
He called it a hustle after being pressed to define it on Saturday Night Live.
It's not the only coin that gets attention from the billionaire.
Last year, the price of the currency went up after it was announced thatTesla would allow customers to buy cars with it. The company scrapped that idea.
Concerns about how much energy it takes to produce the currency is one of the reasons why Mr Musk counts Bitcoin among his investments.
Dogecoin is the only digital currency accepted by the company.
There are items eligible for purchase that are currently sold out.
The firm's website states that the purchases are non-refundable.
Musk is the CEO of the company.
The company that does it is called SpaceX.
There is a virtual currency called the "Bitcoin."
It is a car called theTesla
It is a form of money called cryptocurrencies.
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