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"Tesla will make some merch buyable with Doge & see how it
goes," Musk said in a tweet.
Dogecoin,, popular among retail investors, raced up to $0.20
after the tweet. Musk's tweets on the cryptocurrency, including
the one where he called it the "people's crypto", have helped
the meme coin soar 5,859% over the past year, according to data
from Coinbase website.
Musk did not specify what merchandise, which starts from $50 and
goes as high as $1,900, could be bought with dogecoin.
Tesla sells apparel, 'Giga Texas' belt buckles and mini models
of its vehicles as well as quirky limited-edition items such as
the 'Cyberwhistle', which is modeled after its much-awaited
Cybertruck. It recently launched a quad bike 'Cyberquad' for
kids, also modeled after the truck.
Musk, a cryptocurrency supporter, has often endorsed dogecoin
and said it is better for transactions, most recently in an
interview to the Time magazine, which named him "Person of the
Year" for 2021 on Monday.
"Bitcoin is not a good substitute for transactional currency,"
he said.
Musk had asked users in May if they wanted Tesla to accept
dogecoin in a Twitter poll. He had called dogecoin a 'hustle'
during his guest-host spot on the "Saturday Night Live" comedy
sketch TV show in May.
Musk, who has over 66 million followers on Twitter, has been
highly engaged in this year's retail trading frenzy, tweeting
about cryptocurrencies and helping send their prices soaring.
The EV maker stopped accepting bitcoin for car purchases, less
than two months after the company began to accept the world's
biggest digital currency for payment.
(Reporting by Nivedita Balu and Medha Singh in Bengaluru;
Editing by Krishna Chandra Eluri)
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