Tesla Plans to Sell Goods for Dogecoin Cryptocurrency

Tesla, the electric car manufacturer, plans to sell branded things for Dogecoin, according to the company’s CEO, Elon Musk, who announced the plan on Twitter. Following that, the cryptocurrency’s stock market value soared by more than 25%.

“Tesla will produce certain items that can be bought with Doge,” Musk said. “We’ll see how it works.”

Along with Tesla-branded apparel, the store sells Giga Texas belt buckles and tiny copies of the company’s vehicles.

Additionally, the electric car company creates odd limited-edition items, such as the Cyberwhistle, which is inspired by the much-anticipated Cybertruck. The company just released the Cyberquad children’s ATV, which is based on the truck.

Dogecoin, a cryptocurrency popular with retail investors, witnessed a 25% boost in value to $0.20 per coin as a consequence of Ilon Musk’s tweet, according to Reuters.

When Dogecoin was founded in 2014, it was supposed to be a parody of the popular Internet meme “doge”, which was inspired by a photograph of a Shiba-Inu dog. Despite its origins as a joke, this cryptocurrency now has a market valuation of approximately $25.7 billion.