Tesla CEO Elon Musk announced that Tesla now accepts Dogecoin (DOGE) as payment for the company’s goods. DOGE-enabled products in the Tesla Store can be purchased by sending DOGE to Tesla’s Dogecoin wallet.
While DOGE accepts it, the company also clarified that they do not take other cryptos. The enterprise conditions that it cannot identify assets other than DOGE on its website. The company informs customers that “non-Dogecoin digital assets sent to Tesla will not be returned to the buyer.”
In addition, items purchased from DOGE “cannot be returned, exchanged or cancelled”. Tesla considers all sales made through DOGE that cannot be exchanged for cash as final.
Tesla merch purchasable with Dogecoin
— Elon Musk (@elonmusk) January 14, 2022
Dogecoin creator Billy Markus immediately responded to the announcement, rallying the Dogecoin community. “Alright Dogecoin community, you know what to do,” Markus tweeted.
The community reacts quickly. Some have tweeted that they have already purchased items with DOGE. Just minutes after the announcement, Twitter users Dogecoin_GER already sent a screenshot of his online order saying “Tesla Tequila on the way to Germany!”
Related: Dogecoin creator slams Mozilla for suspending crypto donations
A month ago, Tesla confirmed they will Start accepting DOGE for merch. The announcement led to a 25% price increase for the meme coin at the time. Today, just a few hours after implementing DOGE payments, the asset’s price shows an increase of 18.63%.
Already in December, the Billionaire voiced his thoughts via DOGE comparing it to Bitcoin. According to Musk, “Although Dogecoin originated as a silly hoax, it’s better suited for transactions.” He explained that DOGE is slightly inflationary, and this encourages people to spend it rather than use it as a store of value.
Meanwhile, Tesla may not be the only company to start implementing crypto payments this year. A survey conducted by Visa shows that small and medium-sized companies are also hired introduce crypto payments in 2022.
