Daily Management Review

Tesla starts accepting Dogecoin


US company Tesla has started accepting Dogecoin cryptocurrency for payment, according to the company's website.

Ivan Radic
Ivan Radic
"Tesla only accepts Dogecoin. Tesla cannot receive or identify any other digital assets," the company notes. Users will need a "Dogecoin wallet" to make purchases from the Tesla shop. The company also clarifies that all purchases through Dogecoin are non-refundable, non-exchangeable or non-cancellable.

On this news, the price of Dogecoin is up 9.3%, according to trading data.

This feature became available a month after Tesla founder Elon Musk announced about plans to allow purchase of his own merchandise (various goods and accessories with corporate insignia) with this cryptocurrency, the popularity of which he himself owes.

Dogecoin cryptocurrency was created as a joke back in 2013, but became widely known last year. Musk, who often mentions Dogecoin on his Twitter page, contributed greatly to the cryptocurrency's rise; in particular, he wrote that he bought the cryptocurrency for his youngest son.

source: pymnts.com