Elon Musk has revealed Tesla will start accepting Dogecoin as payment 

Billionaire Elon Musk has revealed that Tesla is accepting dogecoin which is widely known as the people’s crypto’ as payment for some of its products on its website and this comes as a welcoming news for many who trade in the cryptocurrency.

The Chief Executive Officer of Tesla disclosed this on twitter on Friday. The coin started breaking records after Elon Musk’s announcement. The value of the coin soared higher but it came down a little bit. The support page of the website which is Tesla however indicated that customers must have their own dogecoin wallet setup and any payments from other crypto will end up in losses which will be non-refundable.

Read also: Metaverse: Things you need to know 

The announcement which made dogecoin shoot up 14 percent higher a month after Musk stated he will be testing the payment option of the cryptocurrency.

Doge which started in 2013, which was a rush for crypto, has remained in the background for a while now. The value of the coin grew by 4,000% last year through promotions from Musk.

This is not the first time Elon Musk has given so much attention to a crypto currency because as of last year, he revealed that he had invested in Bitcoin and would allow customers to buy his electric cars with it.

But he later halted the acceptance of Bitcoin in May 2021 after voicing out the environmental damage Bitcoin mining does. He cited how much energy is used to produce the currency.

Currently, Dogecoin remains the only digital currency Tesla accepts.

Items eligible for purchase include Tesla-branded belt buckles (835 Doge or about $162; £118) and children’s all-terrain vehicles (12020 Doge or about $2,280; £1,670), which are currently sold out.